Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Sees Large Growth in Short Interest

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,400,000 shares, an increase of 15.9% from the March 15th total of 2,070,000 shares. Based on an average trading volume of 1,530,000 shares, the short-interest ratio is currently 1.6 days. Approximately 2.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMRX. Barclays raised their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. StockNews.com cut shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 4th. The Goldman Sachs Group raised their target price on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Piper Sandler raised their target price on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $7.31.

Amneal Pharmaceuticals Stock Down 0.5 %

Amneal Pharmaceuticals stock traded down $0.03 during trading hours on Tuesday, hitting $5.51. The stock had a trading volume of 491,273 shares, compared to its average volume of 1,506,048. The company has a quick ratio of 0.94, a current ratio of 1.63 and a debt-to-equity ratio of 121.31. The stock has a market capitalization of $1.69 billion, a P/E ratio of -17.87 and a beta of 1.33. Amneal Pharmaceuticals has a 12-month low of $1.40 and a 12-month high of $6.46. The stock’s 50-day moving average price is $5.73 and its 200-day moving average price is $5.12.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its earnings results on Friday, March 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.07. The business had revenue of $616.98 million during the quarter, compared to analysts’ expectations of $630.67 million. Amneal Pharmaceuticals had a negative net margin of 3.51% and a positive return on equity of 126.04%. Equities research analysts anticipate that Amneal Pharmaceuticals will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. bought a new stake in Amneal Pharmaceuticals during the fourth quarter valued at about $30,000. Engineers Gate Manager LP bought a new stake in Amneal Pharmaceuticals during the fourth quarter valued at about $34,000. Price T Rowe Associates Inc. MD bought a new stake in Amneal Pharmaceuticals during the third quarter valued at about $35,000. Tower Research Capital LLC TRC raised its holdings in Amneal Pharmaceuticals by 120.0% during the second quarter. Tower Research Capital LLC TRC now owns 11,165 shares of the company’s stock valued at $35,000 after acquiring an additional 6,089 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Amneal Pharmaceuticals during the second quarter valued at about $38,000. 31.82% of the stock is currently owned by institutional investors.

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.