Gotham Asset Management LLC Buys 40,224 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Gotham Asset Management LLC increased its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 84.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,883 shares of the company’s stock after buying an additional 40,224 shares during the period. Gotham Asset Management LLC’s holdings in Amneal Pharmaceuticals were worth $696,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Nantahala Capital Management LLC increased its stake in shares of Amneal Pharmaceuticals by 37.3% during the 4th quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company’s stock worth $29,031,000 after purchasing an additional 995,586 shares during the last quarter. BlackBarn Capital Partners LP grew its holdings in Amneal Pharmaceuticals by 18.2% during the fourth quarter. BlackBarn Capital Partners LP now owns 2,850,000 shares of the company’s stock valued at $22,572,000 after purchasing an additional 438,388 shares during the period. Mariner LLC increased its position in Amneal Pharmaceuticals by 3,749.1% in the fourth quarter. Mariner LLC now owns 424,291 shares of the company’s stock worth $3,360,000 after buying an additional 413,268 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Amneal Pharmaceuticals by 218.8% during the 4th quarter. Bank of America Corp DE now owns 556,881 shares of the company’s stock valued at $4,410,000 after buying an additional 382,222 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Amneal Pharmaceuticals during the 4th quarter valued at $2,946,000. Institutional investors own 31.82% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the transaction, the insider now owns 48,578,209 shares of the company’s stock, valued at $405,628,045.15. This represents a 9.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gautam Patel sold 80,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the sale, the director now owns 1,808,886 shares in the company, valued at approximately $16,099,085.40. This trade represents a 4.24% decrease in their position. The disclosure for this sale can be found here. 26.56% of the stock is currently owned by company insiders.

Amneal Pharmaceuticals Trading Up 1.3%

Shares of Amneal Pharmaceuticals stock opened at $7.60 on Monday. The company’s 50-day moving average price is $7.77 and its 200-day moving average price is $8.09. Amneal Pharmaceuticals, Inc. has a 12-month low of $6.29 and a 12-month high of $9.48. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -11.18 and a beta of 1.17.

Amneal Pharmaceuticals (NASDAQ:AMRX) last posted its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. The business had revenue of $695.42 million for the quarter, compared to analysts’ expectations of $714.78 million. Amneal Pharmaceuticals had a negative net margin of 6.88% and a negative return on equity of 346.26%. On average, sell-side analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $9.00 to $12.00 in a research note on Monday, February 24th. StockNews.com lowered shares of Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 13th. Finally, Barclays raised their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.50.

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.