Assenagon Asset Management S.A. Grows Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Assenagon Asset Management S.A. lifted its stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 819,736 shares of the company's stock after purchasing an additional 59,267 shares during the period. Assenagon Asset Management S.A. owned about 0.26% of Amneal Pharmaceuticals worth $6,869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Nantahala Capital Management LLC boosted its position in Amneal Pharmaceuticals by 37.3% in the 4th quarter. Nantahala Capital Management LLC now owns 3,665,529 shares of the company's stock valued at $29,031,000 after buying an additional 995,586 shares during the period. BlackBarn Capital Partners LP raised 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 acquiring an additional 438,388 shares in the last quarter. Mariner LLC raised its stake in shares of Amneal Pharmaceuticals by 3,749.1% during the fourth quarter. Mariner LLC now owns 424,291 shares of the company's stock valued at $3,360,000 after acquiring an additional 413,268 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Amneal Pharmaceuticals by 218.8% in the fourth quarter. Bank of America Corp DE now owns 556,881 shares of the company's stock valued at $4,410,000 after purchasing an additional 382,222 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Amneal Pharmaceuticals in the fourth quarter worth approximately $2,946,000. 31.82% of the stock is currently owned by institutional investors.

Amneal Pharmaceuticals Price Performance

NASDAQ AMRX traded down $0.07 during midday trading on Wednesday, hitting $7.84. 664,929 shares of the company traded hands, compared to its average volume of 1,704,694. The company's 50-day simple moving average is $7.44 and its 200-day simple moving average is $7.93. Amneal Pharmaceuticals, Inc. has a 52 week low of $6.29 and a 52 week high of $9.48. The company has a market cap of $2.46 billion, a PE ratio of -196.08 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. The firm had revenue of $695.42 million for the quarter, compared to the consensus estimate of $714.78 million. Amneal Pharmaceuticals had a negative return on equity of 188.26% and a negative net margin of 0.46%. On average, research analysts predict that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMRX shares. Wall Street Zen lowered Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group assumed coverage on Amneal Pharmaceuticals in a research note on Friday, June 6th. They set a "buy" rating and a $12.00 price target on the stock. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $9.00 to $12.00 in a report on Monday, February 24th. Finally, Barclays increased their target price 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $11.60.

Amneal Pharmaceuticals Company Profile

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.