Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel Sells 80,000 Shares

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 80,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.14, for a total transaction of $651,200.00. Following the completion of the sale, the director now directly owns 1,888,886 shares of the company’s stock, valued at approximately $15,375,532.04. The trade was a 4.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Gautam Patel also recently made the following trade(s):

• On Wednesday, January 8th, Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock. The stock was sold at an average price of $8.01, for a total transaction of $501,345.90.
• On Thursday, January 2nd, Gautam Patel sold 17,410 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10.

Amneal Pharmaceuticals Stock Performance

Shares of AMRX stock traded down $0.01 on Wednesday, hitting $7.98. 1,993,740 shares of the stock traded hands, compared to its average volume of 1,215,912. The firm’s 50-day moving average price is $8.15 and its two-hundred day moving average price is $8.24. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.01 and a twelve month high of $9.48. The stock has a market capitalization of $2.47 billion, a PE ratio of -11.74 and a beta of 1.10.

Institutional Trading of Amneal Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd increased its stake in Amneal Pharmaceuticals by 55.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 58,111 shares of the company’s stock worth $460,000 after acquiring an additional 20,686 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its position in Amneal Pharmaceuticals by 20.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company’s stock valued at $1,996,000 after buying an additional 42,000 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Amneal Pharmaceuticals during the fourth quarter valued at about $309,000. Convergence Investment Partners LLC raised its stake in shares of Amneal Pharmaceuticals by 24.7% in the 4th quarter. Convergence Investment Partners LLC now owns 208,009 shares of the company’s stock valued at $1,647,000 after acquiring an additional 41,161 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Amneal Pharmaceuticals by 24.1% in the 4th quarter. New York State Common Retirement Fund now owns 220,627 shares of the company’s stock worth $1,747,000 after acquiring an additional 42,909 shares during the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Piper Sandler raised their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.