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

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of a large increase in short interest in 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. Approximately 2.2% of the company’s stock are short sold. Based on an average daily volume of 1,530,000 shares, the short-interest ratio is currently 1.6 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Aigen Investment Management LP bought a new stake in Amneal Pharmaceuticals in the 3rd quarter valued at about $118,000. Assenagon Asset Management S.A. lifted its position in Amneal Pharmaceuticals by 122.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 515,233 shares of the company’s stock valued at $2,174,000 after purchasing an additional 283,524 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Amneal Pharmaceuticals by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 492,304 shares of the company’s stock valued at $2,078,000 after purchasing an additional 107,090 shares during the last quarter. Caxton Associates LP bought a new stake in Amneal Pharmaceuticals in the 3rd quarter valued at about $508,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Amneal Pharmaceuticals in the 3rd quarter valued at about $160,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, March 4th. The Goldman Sachs Group raised their price objective on shares of Amneal Pharmaceuticals from $5.50 to $6.25 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, Barclays raised their price objective on shares of Amneal Pharmaceuticals from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $7.31.

Amneal Pharmaceuticals Stock Performance

Shares of NASDAQ AMRX traded up $0.02 during midday trading on Monday, hitting $5.54. The company’s stock had a trading volume of 1,117,962 shares, compared to its average volume of 1,520,315. Amneal Pharmaceuticals has a 1-year low of $1.40 and a 1-year high of $6.46. The firm’s fifty day moving average price is $5.73 and its 200-day moving average price is $5.12. 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 firm has a market cap of $1.70 billion, a P/E ratio of -17.87 and a beta of 1.33.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its quarterly earnings results on Friday, March 1st. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. Amneal Pharmaceuticals had a negative net margin of 3.51% and a positive return on equity of 126.04%. The business had revenue of $616.98 million during the quarter, compared to analyst estimates of $630.67 million. On average, sell-side 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.