Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Rises By 8.7%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 4,640,000 shares, a growth of 8.7% from the August 31st total of 4,270,000 shares. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is presently 3.2 days. Currently, 3.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Amneal Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 13,728,233 shares of the company’s stock valued at $83,193,000 after purchasing an additional 85,846 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Amneal Pharmaceuticals during the first quarter worth $1,513,000. Hillsdale Investment Management Inc. increased its holdings in shares of Amneal Pharmaceuticals by 19.7% during the first quarter. Hillsdale Investment Management Inc. now owns 699,719 shares of the company’s stock worth $4,240,000 after buying an additional 115,100 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Amneal Pharmaceuticals by 20.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 751,403 shares of the company’s stock valued at $4,771,000 after acquiring an additional 128,772 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Amneal Pharmaceuticals by 417.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,106 shares of the company’s stock valued at $218,000 after acquiring an additional 29,133 shares in the last quarter. Institutional investors own 31.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on AMRX shares. Barclays raised their target price on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Truist Financial raised their price objective on Amneal Pharmaceuticals from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a research report on Friday, September 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX opened at $8.19 on Friday. The firm’s 50 day simple moving average is $8.05 and its 200 day simple moving average is $6.98. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -14.63 and a beta of 1.18. The company has a current ratio of 1.33, a quick ratio of 0.82 and a debt-to-equity ratio of 121.31. Amneal Pharmaceuticals has a 1 year low of $3.36 and a 1 year high of $8.90.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. Amneal Pharmaceuticals had a positive return on equity of 1,235.03% and a negative net margin of 6.72%. The firm had revenue of $701.78 million for the quarter, compared to the consensus estimate of $657.43 million. As a group, research analysts expect that Amneal Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

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.