Gautam Patel Sells 17,410 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $8.01, for a total transaction of $139,454.10. Following the sale, the director now owns 2,031,476 shares of the company’s stock, valued at $16,272,122.76. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Amneal Pharmaceuticals Stock Up 1.3 %

Shares of AMRX opened at $7.87 on Wednesday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -11.57 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a 52 week low of $5.01 and a 52 week high of $9.48. The stock’s 50-day moving average price is $8.25 and its 200-day moving average price is $8.03.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals during the 3rd quarter valued at approximately $37,000. DekaBank Deutsche Girozentrale acquired a new stake in Amneal Pharmaceuticals during the second quarter valued at $42,000. Quest Partners LLC acquired a new stake in Amneal Pharmaceuticals during the third quarter valued at $84,000. Xponance Inc. purchased a new position in Amneal Pharmaceuticals in the second quarter valued at $65,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Amneal Pharmaceuticals in the third quarter worth about $169,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. Truist Financial upped their target price on 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 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 report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Moderate 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.