Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Significant Increase in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 4,430,000 shares, an increase of 38.4% from the March 15th total of 3,200,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $8.14, for a total value of $651,200.00. Following the completion of the sale, the director now owns 1,888,886 shares in the company, valued at approximately $15,375,532.04. This trade represents a 4.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total transaction of $41,750,000.00. Following the transaction, the insider now owns 48,578,209 shares in the company, valued at $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,160,000 shares of company stock worth $43,113,200. 26.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of hedge funds have recently modified their holdings of AMRX. Vanguard Group Inc. grew its position in shares of Amneal Pharmaceuticals by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 14,841,969 shares of the company’s stock valued at $117,548,000 after purchasing an additional 218,025 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Amneal Pharmaceuticals by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company’s stock worth $39,531,000 after acquiring an additional 278,653 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amneal Pharmaceuticals by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company’s stock worth $30,207,000 after acquiring an additional 26,536 shares during the period. Nantahala Capital Management LLC lifted its position in Amneal Pharmaceuticals by 37.3% in the 4th quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock valued at $29,031,000 after acquiring an additional 995,586 shares in the last quarter. Finally, State Street Corp boosted its stake in Amneal Pharmaceuticals by 3.8% in the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock worth $29,242,000 after purchasing an additional 127,753 shares during the period. Institutional investors and hedge funds own 31.82% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Amneal Pharmaceuticals stock opened at $7.36 on Friday. Amneal Pharmaceuticals has a fifty-two week low of $5.18 and a fifty-two week high of $9.48. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -10.82 and a beta of 1.06. The company’s 50 day simple moving average is $8.12 and its 200 day simple moving average is $8.25.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same period last year, the firm earned $0.14 EPS. As a group, analysts predict that Amneal Pharmaceuticals will post 0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price target for the company from $9.00 to $12.00 in a research note on Monday, February 24th. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $10.80.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.