Hennessy Advisors Inc. Trims Stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Hennessy Advisors Inc. reduced its position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 10.2% during the 1st quarter, HoldingsChannel reports. The firm owned 1,499,400 shares of the company’s stock after selling 171,200 shares during the period. Hennessy Advisors Inc.’s holdings in Amneal Pharmaceuticals were worth $12,565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. increased its holdings in shares of Amneal Pharmaceuticals by 7.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 819,736 shares of the company’s stock valued at $6,869,000 after acquiring an additional 59,267 shares during the period. SG Americas Securities LLC increased its holdings in shares of Amneal Pharmaceuticals by 28.5% in the 1st quarter. SG Americas Securities LLC now owns 95,761 shares of the company’s stock valued at $802,000 after acquiring an additional 21,243 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Amneal Pharmaceuticals in the 1st quarter valued at $264,000. Rhumbline Advisers increased its holdings in shares of Amneal Pharmaceuticals by 2.4% in the 1st quarter. Rhumbline Advisers now owns 237,913 shares of the company’s stock valued at $1,994,000 after acquiring an additional 5,649 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Amneal Pharmaceuticals by 5,975.0% in the 1st quarter. GAMMA Investing LLC now owns 3,159 shares of the company’s stock valued at $26,000 after acquiring an additional 3,107 shares during the period. 31.82% of the stock is currently owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Stock Performance

Amneal Pharmaceuticals stock opened at $7.75 on Friday. The business’s 50-day simple moving average is $7.41 and its two-hundred day simple moving average is $7.94. The company has a market cap of $2.43 billion, a PE ratio of -11.40 and a beta of 1.05. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $6.29 and a fifty-two week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. The business had revenue of $695.42 million for the quarter, compared to the consensus estimate of $714.78 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. As a group, analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. The Goldman Sachs Group assumed coverage on Amneal Pharmaceuticals in a research report on Friday, June 6th. They issued a “buy” rating and a $12.00 price objective for the company. Wall Street Zen cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. Finally, Barclays raised their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $11.60.

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.