Phocas Financial Corp. Sells 71,035 Shares of AMNEAL PHARMACEUTICALS, INC. (NASDAQ:AMRX)

Key Points

• Phocas Financial Corp. reduced its stake in Amneal Pharmaceuticals by 5.3%, selling 71,035 shares during the 1st quarter, now owning approximately 1,259,378 shares.
• Institutional investors hold 31.82% of Amneal Pharmaceuticals' stock, with several firms increasing their stakes, including GAMMA Investing LLC, which raised its holdings by 5,975%.
• Research analysts have given Amneal Pharmaceuticals an average rating of "Buy" with a consensus target price of $11.60, alongside recent upgrades by major institutions like Goldman Sachs.

Phocas Financial Corp. trimmed its holdings in shares of AMNEAL PHARMACEUTICALS, INC. (NASDAQ:AMRX - Free Report) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,259,378 shares of the company's stock after selling 71,035 shares during the period. AMNEAL PHARMACEUTICALS comprises approximately 1.6% of Phocas Financial Corp.'s holdings, making the stock its 9th biggest holding. Phocas Financial Corp. owned 0.41% of AMNEAL PHARMACEUTICALS worth $10,554,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMRX. Amalgamated Bank grew its stake in shares of AMNEAL PHARMACEUTICALS by 33.0% in the 1st quarter. Amalgamated Bank now owns 5,511 shares of the company's stock worth $46,000 after purchasing an additional 1,367 shares during the last quarter. GF Fund Management CO. LTD. raised its position in shares of AMNEAL PHARMACEUTICALS by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 7,934 shares of the company's stock valued at $66,000 after buying an additional 1,428 shares during the last quarter. Xponance Inc. boosted its position in shares of AMNEAL PHARMACEUTICALS by 16.1% during the 1st quarter. Xponance Inc. now owns 13,183 shares of the company's stock valued at $110,000 after acquiring an additional 1,828 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of AMNEAL PHARMACEUTICALS by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 94,639 shares of the company's stock valued at $750,000 after acquiring an additional 2,297 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of AMNEAL PHARMACEUTICALS by 3.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,460 shares of the company's stock valued at $716,000 after purchasing an additional 2,911 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company's stock.

AMNEAL PHARMACEUTICALS Stock Performance

Shares of AMRX stock traded up $0.05 during mid-day trading on Thursday, hitting $8.10. The company's stock had a trading volume of 226,365 shares, compared to its average volume of 1,669,610. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 810.31 and a beta of 1.11. AMNEAL PHARMACEUTICALS, INC. has a 52-week low of $6.68 and a 52-week high of $9.48. The business has a 50-day moving average price of $7.97 and a 200 day moving average price of $7.96.

AMNEAL PHARMACEUTICALS (NASDAQ:AMRX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. AMNEAL PHARMACEUTICALS had a negative return on equity of 189.49% and a net margin of 0.12%. Equities research analysts predict that AMNEAL PHARMACEUTICALS, INC. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on AMNEAL PHARMACEUTICALS in a report on Friday, June 6th. They set a "buy" rating and a $12.00 target price for the company. Wall Street Zen lowered AMNEAL PHARMACEUTICALS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $11.60.

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.