Amneal Pharmaceuticals, Inc. $AMRX Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC lowered its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 39.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,917 shares of the company’s stock after selling 62,852 shares during the quarter. Convergence Investment Partners LLC’s holdings in Amneal Pharmaceuticals were worth $970,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMRX. Rubric Capital Management LP grew its stake in shares of Amneal Pharmaceuticals by 9.1% in the second quarter. Rubric Capital Management LP now owns 11,710,332 shares of the company’s stock valued at $94,737,000 after buying an additional 974,355 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in Amneal Pharmaceuticals by 14.7% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,367,438 shares of the company’s stock valued at $35,333,000 after acquiring an additional 558,877 shares during the period. BlackBarn Capital Partners LP grew its position in Amneal Pharmaceuticals by 19.6% in the 2nd quarter. BlackBarn Capital Partners LP now owns 3,446,570 shares of the company’s stock valued at $27,883,000 after acquiring an additional 564,916 shares in the last quarter. Acadian Asset Management LLC increased its stake in Amneal Pharmaceuticals by 2.5% during the second quarter. Acadian Asset Management LLC now owns 2,662,524 shares of the company’s stock worth $21,525,000 after purchasing an additional 64,230 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Amneal Pharmaceuticals by 187.1% during the third quarter. Assenagon Asset Management S.A. now owns 2,150,041 shares of the company’s stock worth $21,522,000 after purchasing an additional 1,401,190 shares in the last quarter. 31.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up from $11.00) on shares of Amneal Pharmaceuticals in a research note on Friday, October 31st. Barclays assumed coverage on shares of Amneal Pharmaceuticals in a research note on Monday, December 8th. They issued an “overweight” rating and a $15.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Amneal Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Truist Financial set a $15.00 target price on Amneal Pharmaceuticals in a research note on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.80.

Insider Activity

In other news, Director Ted C. Nark sold 50,000 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.72, for a total value of $586,000.00. Following the completion of the transaction, the director owned 291,029 shares in the company, valued at approximately $3,410,859.88. This represents a 14.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nikita Shah sold 131,856 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $11.92, for a total transaction of $1,571,723.52. Following the completion of the transaction, the executive vice president directly owned 146,403 shares in the company, valued at $1,745,123.76. This trade represents a 47.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 231,856 shares of company stock valued at $2,743,724. Insiders own 17.45% of the company’s stock.

Amneal Pharmaceuticals Trading Up 3.7%

Amneal Pharmaceuticals stock opened at $14.19 on Tuesday. The company has a fifty day simple moving average of $12.86 and a 200-day simple moving average of $10.91. The stock has a market cap of $4.46 billion, a P/E ratio of 709.85 and a beta of 1.36. Amneal Pharmaceuticals, Inc. has a 12-month low of $6.68 and a 12-month high of $15.00.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.