Short Interest in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Expands By 8.7%

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 4,640,000 shares, an increase of 8.7% from the August 31st total of 4,270,000 shares. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is presently 3.2 days. Currently, 3.9% of the shares of the stock are sold short.

Amneal Pharmaceuticals Price Performance

Amneal Pharmaceuticals stock opened at $8.32 on Tuesday. Amneal Pharmaceuticals has a 1 year low of $3.36 and a 1 year high of $8.90. The company’s 50 day simple moving average is $8.06 and its 200-day simple moving average is $7.01. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -14.86 and a beta of 1.18. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.82 and a current ratio of 1.33.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, August 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. Amneal Pharmaceuticals had a negative net margin of 6.72% and a positive return on equity of 1,235.03%. The firm had revenue of $701.78 million for the quarter, compared to the consensus estimate of $657.43 million. As a group, equities research analysts expect that Amneal Pharmaceuticals will post 0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Amneal Pharmaceuticals from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Barclays lifted their target price on shares of Amneal Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Friday, September 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several large investors have recently added to or reduced their stakes in AMRX. Rubric Capital Management LP increased its stake in Amneal Pharmaceuticals by 98.8% during the 4th quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock worth $48,560,000 after buying an additional 3,975,500 shares during the period. Hennessy Advisors Inc. acquired a new position in Amneal Pharmaceuticals during the 2nd quarter worth approximately $8,818,000. Acadian Asset Management LLC grew its holdings in Amneal Pharmaceuticals by 701.8% during the 2nd quarter. Acadian Asset Management LLC now owns 811,853 shares of the company’s stock worth $5,148,000 after acquiring an additional 710,598 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Amneal Pharmaceuticals by 17.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,283,928 shares of the company’s stock worth $27,205,000 after acquiring an additional 641,405 shares in the last quarter. Finally, BlackBarn Capital Partners LP grew its holdings in Amneal Pharmaceuticals by 41.5% during the 2nd 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. 31.82% of the stock is owned by hedge funds and other 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.