Amneal Pharmaceuticals (NASDAQ:AMRX) Stock Price Down 5.7% - What's Next?

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report)'s stock price traded down 5.7% on Monday . The stock traded as low as $7.54 and last traded at $7.52. 529,888 shares changed hands during trading, a decline of 62% from the average session volume of 1,411,667 shares. The stock had previously closed at $7.97.

Wall Street Analysts Forecast Growth

AMRX has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $9.00 to $12.00 in a research note on Monday, February 24th. Barclays boosted their target price on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. Finally, StockNews.com raised Amneal Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.50.

Amneal Pharmaceuticals Stock Performance

The firm's 50-day simple moving average is $7.90 and its 200-day simple moving average is $8.13. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -10.91 and a beta of 1.17.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm had revenue of $695.42 million during the quarter, compared to analysts' expectations of $714.78 million. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. Equities research analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In other news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total value of $41,750,000.00. Following the sale, the insider now directly owns 48,578,209 shares in the company, valued at approximately $405,628,045.15. This represents a 9.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gautam Patel sold 80,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.90, for a total transaction of $712,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.56% of the company's stock.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of large investors have recently bought and sold shares of AMRX. Nantahala Capital Management LLC grew its holdings in shares of Amneal Pharmaceuticals by 37.3% during the fourth 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. Vanguard Group Inc. raised its stake in shares of Amneal Pharmaceuticals by 6.2% in the first quarter. Vanguard Group Inc. now owns 15,762,727 shares of the company's stock worth $132,092,000 after acquiring an additional 920,758 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Amneal Pharmaceuticals by 149.7% during the third quarter. JPMorgan Chase & Co. now owns 1,297,094 shares of the company's stock worth $10,792,000 after purchasing an additional 777,568 shares in the last quarter. BlackBarn Capital Partners LP grew its stake in shares of 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 last quarter. Finally, Mariner LLC increased its holdings in shares of Amneal Pharmaceuticals by 3,749.1% in the fourth quarter. Mariner LLC now owns 424,291 shares of the company's stock valued at $3,360,000 after purchasing an additional 413,268 shares in the last quarter. 31.82% of the stock is currently owned by 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.