Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Short Interest Up 15.9% in March

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,400,000 shares, an increase of 15.9% from the March 15th total of 2,070,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 1,530,000 shares, the short-interest ratio is presently 1.6 days.

Hedge Funds Weigh In On Amneal Pharmaceuticals

Several hedge funds have recently made changes to their positions in AMRX. Rubric Capital Management LP grew its stake in shares of 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 acquiring an additional 3,975,500 shares in the last quarter. Morgan Stanley increased its holdings in Amneal Pharmaceuticals by 935.8% during the fourth quarter. Morgan Stanley now owns 4,220,998 shares of the company’s stock worth $8,400,000 after buying an additional 3,813,489 shares during the last quarter. Millennium Management LLC increased its holdings in Amneal Pharmaceuticals by 153.3% during the fourth quarter. Millennium Management LLC now owns 5,013,378 shares of the company’s stock worth $9,977,000 after buying an additional 3,034,426 shares during the last quarter. Norges Bank acquired a new position in Amneal Pharmaceuticals during the fourth quarter worth $5,402,000. Finally, Vanguard Group Inc. increased its holdings in Amneal Pharmaceuticals by 10.8% during the first quarter. Vanguard Group Inc. now owns 12,830,372 shares of the company’s stock worth $53,504,000 after buying an additional 1,255,477 shares during the last quarter. 31.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMRX has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price target on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the company a “buy” rating in a research report on Monday, March 4th. StockNews.com downgraded shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 4th. Barclays increased their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, Piper Sandler increased their price target on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $7.31.

Amneal Pharmaceuticals Stock Up 0.4 %

NASDAQ AMRX traded up $0.02 during trading hours on Monday, reaching $5.54. 1,117,962 shares of the company’s stock were exchanged, compared to its average volume of 1,520,315. The company’s 50-day moving average is $5.73 and its two-hundred day moving average is $5.12. Amneal Pharmaceuticals has a one year low of $1.40 and a one year high of $6.46. The company has a debt-to-equity ratio of 121.31, a quick ratio of 0.94 and a current ratio of 1.63. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -17.87 and a beta of 1.33.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, March 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The business had revenue of $616.98 million during the quarter, compared to analysts’ expectations of $630.67 million. Amneal Pharmaceuticals had a positive return on equity of 126.04% and a negative net margin of 3.51%. On average, analysts forecast that Amneal Pharmaceuticals will post 0.5 EPS for the current fiscal year.

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.