Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Decreases By 16.3%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 3,500,000 shares, a decrease of 16.3% from the October 15th total of 4,180,000 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is presently 2.9 days.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ AMRX opened at $8.47 on Friday. Amneal Pharmaceuticals has a 1 year low of $4.16 and a 1 year high of $9.48. The firm has a 50-day moving average of $8.58 and a 200 day moving average of $7.65. The stock has a market cap of $2.62 billion, a P/E ratio of -12.46 and a beta of 1.17.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Large investors have recently made changes to their positions in the business. Profund Advisors LLC increased its position in Amneal Pharmaceuticals by 8.1% during the 2nd quarter. Profund Advisors LLC now owns 22,522 shares of the company’s stock valued at $143,000 after buying an additional 1,680 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Amneal Pharmaceuticals by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 21,902 shares of the company’s stock worth $133,000 after purchasing an additional 1,726 shares during the last quarter. SG Americas Securities LLC boosted its stake in Amneal Pharmaceuticals by 18.8% in the 1st quarter. SG Americas Securities LLC now owns 20,112 shares of the company’s stock worth $122,000 after purchasing an additional 3,177 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Amneal Pharmaceuticals during the 2nd quarter valued at about $26,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Amneal Pharmaceuticals by 13.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,952 shares of the company’s stock valued at $222,000 after purchasing an additional 4,115 shares in the last quarter. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMRX shares. Barclays boosted their target price on Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised shares of 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. 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. StockNews.com raised Amneal Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Truist Financial increased 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 analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.