Traders Purchase Large Volume of Call Options on Amneal Pharmaceuticals (NASDAQ:AMRX)

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) was the target of unusually large options trading activity on Monday. Stock investors acquired 2,563 call options on the stock. This represents an increase of approximately 719% compared to the typical daily volume of 313 call options.

Amneal Pharmaceuticals Stock Up 0.8 %

AMRX opened at $7.85 on Wednesday. Amneal Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $9.48. The firm has a 50-day simple moving average of $8.40 and a two-hundred day simple moving average of $7.95. The company has a market capitalization of $2.43 billion, a PE ratio of -11.54 and a beta of 1.12.

Insider Transactions at Amneal Pharmaceuticals

In related news, SVP Jason B. Daly sold 43,657 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $8.61, for a total transaction of $375,886.77. Following the completion of the transaction, the senior vice president now directly owns 13,665 shares in the company, valued at approximately $117,655.65. The trade was a 76.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 17.46% of the company’s stock.

Hedge Funds Weigh In On Amneal Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRX. Franklin Resources Inc. raised its holdings in shares of Amneal Pharmaceuticals by 4.9% during the 3rd quarter. Franklin Resources Inc. now owns 89,887 shares of the company’s stock worth $778,000 after acquiring an additional 4,178 shares in the last quarter. Geode Capital Management LLC raised its stake in Amneal Pharmaceuticals by 11.1% during the third quarter. Geode Capital Management LLC now owns 3,786,671 shares of the company’s stock valued at $31,511,000 after purchasing an additional 378,136 shares in the last quarter. Barclays PLC lifted its position in Amneal Pharmaceuticals by 134.1% during the third quarter. Barclays PLC now owns 296,384 shares of the company’s stock valued at $2,466,000 after purchasing an additional 169,756 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Amneal Pharmaceuticals in the 3rd quarter worth $311,000. Finally, Wellington Management Group LLP bought a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter worth about $687,000. 31.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial upped their price target on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Piper Sandler boosted their price objective on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 target price for the company in a research report on Friday, September 6th. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

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.