Insider Selling: Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Major Shareholder Sells 5,000,000 Shares of Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total value of $41,750,000.00. Following the sale, the insider now owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. This represents a 9.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Amneal Pharmaceuticals Price Performance

Shares of NASDAQ AMRX opened at $8.62 on Wednesday. The business has a fifty day moving average price of $8.33 and a two-hundred day moving average price of $8.36. The stock has a market capitalization of $2.67 billion, a PE ratio of -12.68 and a beta of 1.05. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.18 and a fifty-two week high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings results on Friday, February 28th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The company had revenue of $730.52 million during the quarter, compared to analyst estimates of $708.21 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. During the same period last year, the firm earned $0.14 EPS. On average, equities analysts expect that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMRX. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $9.00 to $12.00 in a report on Monday, February 24th. Finally, Barclays raised their price target on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $10.80.

Institutional Trading of Amneal Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in AMRX. Gladius Capital Management LP acquired a new position in Amneal Pharmaceuticals during the third quarter valued at approximately $37,000. GF Fund Management CO. LTD. acquired a new position in shares of Amneal Pharmaceuticals during the 4th quarter worth $52,000. Quest Partners LLC bought a new stake in shares of Amneal Pharmaceuticals during the 3rd quarter worth $84,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Amneal Pharmaceuticals in the fourth quarter valued at about $81,000. Finally, Straightline Group LLC bought a new position in Amneal Pharmaceuticals in the fourth quarter valued at about $92,000. Institutional investors own 31.82% of the company’s stock.

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.