JPMorgan Chase & Co. Purchases 777,568 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

JPMorgan Chase & Co. raised its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 149.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,297,094 shares of the company’s stock after acquiring an additional 777,568 shares during the period. JPMorgan Chase & Co. owned approximately 0.42% of Amneal Pharmaceuticals worth $10,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals in the third quarter valued at about $37,000. DekaBank Deutsche Girozentrale bought a new position in shares of Amneal Pharmaceuticals in the 2nd quarter worth about $42,000. Quest Partners LLC purchased a new position in Amneal Pharmaceuticals during the 3rd quarter valued at about $84,000. Xponance Inc. bought a new position in shares of Amneal Pharmaceuticals during the second quarter valued at approximately $65,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth approximately $169,000. Hedge funds and other institutional investors own 31.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Piper Sandler increased their price objective 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. Finally, Truist Financial raised their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the company a “buy” rating in a 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 stock. According to MarketBeat.com, Amneal Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Insider Buying and Selling at Amneal Pharmaceuticals

In other Amneal Pharmaceuticals news, Director Gautam Patel sold 17,410 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10. Following the transaction, the director now owns 2,031,476 shares of the company’s stock, valued at approximately $16,272,122.76. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jason B. Daly sold 43,657 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the sale, the senior vice president now directly owns 13,665 shares of the company’s stock, valued at $117,655.65. The trade was a 76.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,657 shares of company stock worth $1,016,687 over the last 90 days. Company insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Stock Performance

NASDAQ AMRX opened at $7.97 on Monday. The company has a market cap of $2.47 billion, a P/E ratio of -11.72 and a beta of 1.10. Amneal Pharmaceuticals, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $9.48. The business’s 50 day moving average price is $8.22 and its 200-day moving average price is $8.06.

Amneal Pharmaceuticals Company Profile

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.