Wellington Management Group LLP Invests $687,000 in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Wellington Management Group LLP acquired a new stake in shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 82,596 shares of the company’s stock, valued at approximately $687,000.

A number of other large investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Amneal Pharmaceuticals by 3.8% during the 3rd quarter. State Street Corp now owns 3,514,721 shares of the company’s stock valued at $29,242,000 after buying an additional 127,753 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Amneal Pharmaceuticals during the 3rd quarter valued at $169,000. Polar Asset Management Partners Inc. lifted its position in shares of Amneal Pharmaceuticals by 122.5% during the third quarter. Polar Asset Management Partners Inc. now owns 393,000 shares of the company’s stock worth $3,270,000 after acquiring an additional 216,400 shares in the last quarter. Bellevue Group AG boosted its holdings in shares of Amneal Pharmaceuticals by 21.8% in the third quarter. Bellevue Group AG now owns 76,414 shares of the company’s stock worth $636,000 after acquiring an additional 13,654 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Amneal Pharmaceuticals in the third quarter valued at $1,095,000. 31.82% of the stock is owned by hedge funds and other institutional investors.

Amneal Pharmaceuticals Price Performance

Shares of AMRX opened at $7.78 on Friday. Amneal Pharmaceuticals, Inc. has a 1 year low of $5.01 and a 1 year high of $9.48. The stock has a 50 day simple moving average of $8.42 and a two-hundred day simple moving average of $7.93. The firm has a market cap of $2.41 billion, a P/E ratio of -11.44 and a beta of 1.12.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMRX. Piper Sandler increased their price target on shares of Amneal Pharmaceuticals from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised shares of Amneal Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Friday, September 6th. 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 report on Wednesday, October 2nd. Finally, StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Insider Activity

In related news, SVP Jason B. Daly sold 43,657 shares of Amneal Pharmaceuticals stock in a transaction on Friday, November 15th. The shares were sold at an average price of $8.61, for a total value of $375,886.77. Following the transaction, the senior vice president now owns 13,665 shares in the company, valued at $117,655.65. This trade represents a 76.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.56% of the stock is owned by corporate insiders.

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.