Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Holdings Reduced by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 10.2% during the first quarter, according to its most recent 13F filing with the SEC. 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 approximately 0.48% of Amneal Pharmaceuticals worth $12,565,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Amneal Pharmaceuticals by 5,975.0% during the 1st quarter. GAMMA Investing LLC now owns 3,159 shares of the company's stock valued at $26,000 after purchasing an additional 3,107 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $52,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $81,000. Straightline Group LLC bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $92,000. Finally, Brevan Howard Capital Management LP bought a new position in Amneal Pharmaceuticals in the 4th quarter worth about $107,000. 31.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Amneal Pharmaceuticals Stock Down 2.6%

NASDAQ:AMRX traded down $0.21 during trading hours on Tuesday, reaching $7.90. 1,715,316 shares of the stock were exchanged, compared to its average volume of 1,462,498. The business has a 50-day moving average of $7.43 and a two-hundred day moving average of $7.93. Amneal Pharmaceuticals, Inc. has a twelve month low of $6.29 and a twelve month high of $9.48. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -11.62 and a beta of 1.05.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last issued its quarterly earnings data 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. Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The company had revenue of $695.42 million for the quarter, compared to analyst estimates of $714.78 million. On average, research analysts forecast that Amneal Pharmaceuticals, Inc. will post 0.53 EPS for the current fiscal year.

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.