Hennessy Advisors Inc. Has $12.57 Million Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Hennessy Advisors Inc. reduced its holdings in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,499,400 shares of the company's stock after selling 171,200 shares during the period. Hennessy Advisors Inc. owned about 0.48% of Amneal Pharmaceuticals worth $12,565,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMRX. Janney Montgomery Scott LLC purchased a new stake in shares of Amneal Pharmaceuticals during the 4th quarter worth about $121,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Amneal Pharmaceuticals during the fourth quarter valued at approximately $81,000. Entropy Technologies LP bought a new stake in shares of Amneal Pharmaceuticals during the fourth quarter valued at approximately $259,000. Rhumbline Advisers increased its position in shares of Amneal Pharmaceuticals by 3.5% during the fourth quarter. Rhumbline Advisers now owns 232,264 shares of the company's stock valued at $1,840,000 after purchasing an additional 7,875 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Amneal Pharmaceuticals by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 96,835 shares of the company's stock valued at $767,000 after buying an additional 8,213 shares in the last quarter. 31.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMRX shares. Wall Street Zen lowered Amneal Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $9.00 to $12.00 in a report on Monday, February 24th. Barclays upped their price objective on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. Finally, The Goldman Sachs Group started coverage on Amneal Pharmaceuticals in a research report on Friday, June 6th. They set a "buy" rating and a $12.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $11.60.

Amneal Pharmaceuticals Stock Down 2.6%

Shares of NASDAQ:AMRX traded down $0.21 during mid-day trading on Friday, reaching $7.75. 1,402,315 shares of the stock were exchanged, compared to its average volume of 1,456,406. The stock's 50 day simple moving average is $7.41 and its 200-day simple moving average is $7.94. The company has a market cap of $2.43 billion, a P/E ratio of -11.40 and a beta of 1.05. Amneal Pharmaceuticals, Inc. has a one year low of $6.29 and a one year high of $9.48.

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

Amneal Pharmaceuticals 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.