Verition Fund Management LLC Sells 5,673 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Verition Fund Management LLC decreased its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 10.9% during the third quarter, HoldingsChannel reports. The fund owned 46,344 shares of the company’s stock after selling 5,673 shares during the quarter. Verition Fund Management LLC’s holdings in Amneal Pharmaceuticals were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC bought a new stake in Amneal Pharmaceuticals during the 2nd quarter valued at $26,000. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at $37,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $42,000. nVerses Capital LLC purchased a new position in shares of Amneal Pharmaceuticals during the 2nd quarter valued at $62,000. Finally, Quest Partners LLC purchased a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at $84,000. Institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ:AMRX opened at $7.92 on Friday. Amneal Pharmaceuticals, Inc. has a 52-week low of $4.46 and a 52-week high of $9.48. The firm has a fifty day moving average of $8.52 and a 200 day moving average of $7.88. The firm has a market capitalization of $2.45 billion, a PE ratio of -11.74 and a beta of 1.12.

Insider Buying and Selling

In other Amneal Pharmaceuticals news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the sale, the senior vice president now directly owns 13,665 shares in the company, valued at $117,655.65. This represents a 76.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 26.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a research report on Friday, September 6th. Truist Financial boosted their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler boosted their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amneal Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $10.00.

Amneal Pharmaceuticals Profile

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.