Voleon Capital Management LP Acquires New Stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Voleon Capital Management LP bought a new position in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 55,962 shares of the company’s stock, valued at approximately $443,000.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Amneal Pharmaceuticals during the fourth quarter worth about $81,000. Straightline Group LLC purchased a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $92,000. Cibc World Markets Corp acquired a new stake in shares of Amneal Pharmaceuticals in the fourth quarter valued at approximately $118,000. Janney Montgomery Scott LLC purchased a new position in Amneal Pharmaceuticals during the fourth quarter worth approximately $121,000. Finally, Fox Run Management L.L.C. boosted its stake in Amneal Pharmaceuticals by 69.0% during the fourth quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company’s stock worth $162,000 after buying an additional 8,342 shares during the last quarter. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Amneal Pharmaceuticals Trading Up 1.0 %

NASDAQ AMRX opened at $7.74 on Friday. The stock has a market cap of $2.40 billion, a PE ratio of -11.38 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a twelve month low of $5.81 and a twelve month high of $9.48. The stock has a fifty day simple moving average of $8.03 and a 200-day simple moving average of $8.17.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its quarterly earnings results on Friday, February 28th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The company had revenue of $730.52 million for 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 quarter in the prior year, the business earned $0.14 earnings per share. Research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current year.

Insider Transactions at Amneal Pharmaceuticals

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of Amneal Pharmaceuticals stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the transaction, the insider now owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. The trade was a 9.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gautam Patel sold 80,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 1,888,886 shares in the company, valued at approximately $15,375,532.04. This trade represents a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,160,000 shares of company stock worth $43,113,200 over the last ninety days. Company insiders own 26.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMRX. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $12.00 in a research note on Monday, February 24th. Barclays raised their price objective 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Amneal Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $10.80.

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.