Jump Financial LLC Takes Position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Jump Financial LLC acquired a new position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 165,916 shares of the company’s stock, valued at approximately $1,314,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Amneal Pharmaceuticals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 14,841,969 shares of the company’s stock worth $117,548,000 after purchasing an additional 218,025 shares during the last quarter. Geode Capital Management LLC increased its position in Amneal Pharmaceuticals by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company’s stock worth $30,207,000 after buying an additional 26,536 shares during the last quarter. State Street Corp raised its holdings in Amneal Pharmaceuticals by 3.8% during the third 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. Hennessy Advisors Inc. lifted its position in shares of Amneal Pharmaceuticals by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 1,670,600 shares of the company’s stock worth $13,231,000 after buying an additional 106,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Amneal Pharmaceuticals by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,539,934 shares of the company’s stock worth $12,196,000 after acquiring an additional 135,051 shares in the last quarter. Institutional investors own 31.82% of the company’s stock.

Analysts Set New Price Targets

AMRX has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $9.00 to $12.00 in a report on Monday, February 24th. Barclays upped their price objective on shares of Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $10.80.

Insider Activity

In related news, Director Gautam Patel sold 80,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.90, for a total transaction of $712,000.00. Following the transaction, the director now directly owns 1,808,886 shares in the company, valued at $16,099,085.40. The trade was a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.35, for a total value of $41,750,000.00. Following the completion of the sale, the insider now owns 48,578,209 shares of the company’s stock, valued at $405,628,045.15. This represents a 9.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,160,000 shares of company stock valued at $43,113,200. Insiders own 26.56% of the company’s stock.

Amneal Pharmaceuticals Stock Up 2.5 %

AMRX opened at $7.36 on Friday. The stock’s 50 day moving average price is $8.10 and its two-hundred day moving average price is $8.24. The firm has a market capitalization of $2.28 billion, a P/E ratio of -10.82 and a beta of 1.06. Amneal Pharmaceuticals, Inc. has a 12-month low of $5.18 and a 12-month high of $9.48.

Amneal Pharmaceuticals (NASDAQ:AMRX) last announced its earnings results on Friday, February 28th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Amneal Pharmaceuticals had a negative return on equity of 346.26% and a negative net margin of 6.88%. The company had revenue of $730.52 million for the quarter, compared to the consensus estimate of $708.21 million. During the same period last year, the firm posted $0.14 EPS. As a group, analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current 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.