Franklin Resources Inc. Buys 4,178 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Franklin Resources Inc. raised its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,887 shares of the company’s stock after buying an additional 4,178 shares during the period. Franklin Resources Inc.’s holdings in Amneal Pharmaceuticals were worth $778,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMRX. Rubric Capital Management LP grew its holdings in Amneal Pharmaceuticals by 12.4% during the 2nd quarter. Rubric Capital Management LP now owns 10,721,778 shares of the company’s stock worth $68,083,000 after acquiring an additional 1,179,830 shares during the period. Acadian Asset Management LLC increased its stake in Amneal Pharmaceuticals by 701.8% in the second quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock valued at $5,148,000 after purchasing an additional 710,598 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Amneal Pharmaceuticals by 114.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,204,994 shares of the company’s stock worth $10,026,000 after purchasing an additional 642,065 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Amneal Pharmaceuticals by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock valued at $27,205,000 after buying an additional 641,405 shares during the period. Finally, BlackBarn Capital Partners LP boosted its holdings in Amneal Pharmaceuticals by 41.5% in the second quarter. BlackBarn Capital Partners LP now owns 2,000,000 shares of the company’s stock worth $12,700,000 after acquiring an additional 586,703 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

Insider Buying and Selling at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $8.61, for a total transaction of $375,886.77. Following the sale, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. This represents a 76.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Stock Down 0.4 %

Shares of AMRX stock opened at $7.82 on Monday. The company has a 50 day moving average of $8.34 and a 200-day moving average of $7.98. Amneal Pharmaceuticals, Inc. has a 12-month low of $5.01 and a 12-month high of $9.48. The firm has a market cap of $2.42 billion, a P/E ratio of -11.50 and a beta of 1.12.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com cut Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Piper Sandler increased their target price on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research note on Friday, September 6th. Finally, Truist Financial increased their price target on Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

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.