Renaissance Technologies LLC Acquires 260,237 Shares of Amneal Pharmaceuticals, Inc. $AMRX

Key Points

• Renaissance Technologies increased its Amneal Pharmaceuticals stake by 1,586.8% in the first quarter, purchasing 260,237 additional shares and bringing its holdings to 276,637 shares worth approximately $3.44 million.
• Analyst sentiment is broadly positive: seven analysts rate AMRX a Buy and one rates it Hold, with a consensus price target of $17.67. Goldman Sachs and UBS maintained Buy ratings, while UBS raised its target to $25.
• Amneal shares opened at $18.14, near their 52-week high of $19.26, after the company reported quarterly earnings of $0.27 per share on revenue of $722.52 million. Director Deborah M. Autor separately sold 34,819 shares, reducing her ownership by 27.1%.

Renaissance Technologies LLC increased its stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Free Report) by 1,586.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,637 shares of the company's stock after buying an additional 260,237 shares during the period. Renaissance Technologies LLC owned 0.09% of Amneal Pharmaceuticals worth $3,439,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Amneal Pharmaceuticals in the fourth quarter valued at about $26,000. Federated Hermes Inc. grew its position in shares of Amneal Pharmaceuticals by 1,680.6% during the 4th quarter. Federated Hermes Inc. now owns 2,297 shares of the company's stock worth $29,000 after buying an additional 2,168 shares during the period. Comerica Bank grew its position in shares of Amneal Pharmaceuticals by 186.7% during the 3rd quarter. Comerica Bank now owns 3,005 shares of the company's stock worth $30,000 after buying an additional 1,957 shares during the period. Transamerica Financial Advisors LLC increased its stake in shares of Amneal Pharmaceuticals by 541.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 2,914 shares of the company's stock valued at $37,000 after acquiring an additional 2,460 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at about $42,000. Institutional investors own 31.82% of the company's stock.

Insider Activity

In related news, Director Deborah M. Autor sold 34,819 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $12.94, for a total transaction of $450,557.86. Following the sale, the director directly owned 93,660 shares in the company, valued at $1,211,960.40. This trade represents a 27.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on AMRX. The Goldman Sachs Group reissued a "buy" rating and set a $21.00 price objective on shares of Amneal Pharmaceuticals in a research note on Friday, July 31st. UBS Group increased their target price on shares of Amneal Pharmaceuticals from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Amneal Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Amneal Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 12th. Finally, Barclays upped their price objective on shares of Amneal Pharmaceuticals from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Amneal Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $17.67.

Amneal Pharmaceuticals Price Performance

NASDAQ AMRX opened at $18.14 on Friday. The business has a 50 day simple moving average of $16.79 and a 200 day simple moving average of $14.44. Amneal Pharmaceuticals, Inc. has a 52-week low of $8.21 and a 52-week high of $19.26. The company has a debt-to-equity ratio of 77.65, a quick ratio of 1.44 and a current ratio of 2.20. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 37.02 and a beta of 1.27.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter. The firm had revenue of $722.52 million for the quarter. Amneal Pharmaceuticals had a net margin of 5.05% and a negative return on equity of 584.46%. Analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.94 earnings per share for the current fiscal year.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc is a publicly traded integrated healthcare company specializing in the development, manufacturing and distribution of generic and specialty pharmaceutical products. The company’s portfolio includes oral solids, injectables, transdermals and biosimilars, serving a broad range of therapeutic areas such as cardiovascular, neuroscience, oncology and women’s health. Alongside its generic offerings, Amneal has built a branded portfolio through strategic acquisitions and internal development, positioning itself across both high-volume generics and higher-value specialty treatments.

Since its founding in 2002 by brothers Chirag and Chintu Modgil, Amneal has pursued growth through organic investment in research and development as well as targeted M&A.

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