Balyasny Asset Management L.P. Invests $1.37 Million in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Balyasny Asset Management L.P. purchased a new position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 172,313 shares of the company’s stock, valued at approximately $1,365,000. Balyasny Asset Management L.P. owned approximately 0.06% of Amneal Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMRX. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Amneal Pharmaceuticals in the 4th quarter worth $81,000. Straightline Group LLC bought a new position in shares of Amneal Pharmaceuticals in the 4th quarter worth $92,000. Cibc World Markets Corp bought a new position in shares of Amneal Pharmaceuticals in the 4th quarter worth $118,000. Janney Montgomery Scott LLC bought a new position in shares of Amneal Pharmaceuticals in the 4th quarter worth $121,000. Finally, Fox Run Management L.L.C. raised its position in shares of Amneal Pharmaceuticals by 69.0% in the 4th quarter. Fox Run Management L.L.C. now owns 20,435 shares of the company’s stock worth $162,000 after acquiring an additional 8,342 shares in the last quarter. 31.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Amneal Pharmaceuticals

In other news, Director Gautam Patel sold 80,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.90, for a total value of $712,000.00. Following the sale, the director now owns 1,808,886 shares in the company, valued at $16,099,085.40. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 48,578,209 shares in the company, valued at $405,628,045.15. The trade was a 9.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Price Performance

Shares of AMRX stock opened at $7.50 on Wednesday. Amneal Pharmaceuticals, Inc. has a 1-year low of $6.29 and a 1-year high of $9.48. The stock’s fifty day moving average price is $7.85 and its 200 day moving average price is $8.11. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -11.03 and a beta of 1.17.

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, equities research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMRX. JPMorgan Chase & Co. raised Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Barclays boosted their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Monday, March 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.50.

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.