Connor Clark & Lunn Investment Management Ltd. Sells 9,138 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,975 shares of the company’s stock after selling 9,138 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.18% of Amneal Pharmaceuticals worth $4,567,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new stake in shares of Amneal Pharmaceuticals in the second quarter valued at about $8,818,000. Rubric Capital Management LP lifted its position in shares of Amneal Pharmaceuticals by 12.4% in the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after acquiring an additional 1,179,830 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Amneal Pharmaceuticals by 701.8% during the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after purchasing an additional 710,598 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Amneal Pharmaceuticals by 114.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock valued at $10,026,000 after purchasing an additional 642,065 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Amneal Pharmaceuticals by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after purchasing an additional 641,405 shares in the last quarter. 31.82% of the stock is owned by institutional investors.

Insider Transactions at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the sale, the senior vice president now owns 13,665 shares of the company’s stock, valued at approximately $117,655.65. This trade represents a 76.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ:AMRX opened at $8.39 on Friday. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -12.34 and a beta of 1.17. The firm’s 50 day simple moving average is $8.57 and its 200 day simple moving average is $7.73. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $9.48.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target on the stock in a research note on Friday, September 6th. Barclays increased their price target on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Piper Sandler raised their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. StockNews.com upgraded Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Truist Financial raised their target price on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $10.00.

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.