Nikita Shah Sells 71,694 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock

Nikita Shah, EVP of Amneal Pharmaceuticals, sold 71,694 shares at $9.29 each, totaling $666,037.26, reducing his ownership by 21.15%. Post-sale, he holds 267,235 shares valued at approximately $2.48 million. This transaction was disclosed to the SEC. Shah had previously sold 50,000 shares at $9.04 each. Amneal's stock opened at $9.45, with a market cap of $2.96 billion. Analysts have a consensus "Buy" rating with an average price target of $11.60.

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX - Get Free Report) EVP Nikita Shah sold 71,694 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $9.29, for a total transaction of $666,037.26. Following the completion of the transaction, the executive vice president owned 267,235 shares in the company, valued at approximately $2,482,613.15. This represents a 21.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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Nikita Shah also recently made the following trade(s):

On Tuesday, August 12th, Nikita Shah sold 50,000 shares of Amneal Pharmaceuticals stock. The shares were sold at an average price of $9.04, for a total transaction of $452,000.00.

Amneal Pharmaceuticals Stock Up 0.6%

Shares of AMRX opened at $9.45 on Friday. The company has a market cap of $2.96 billion, a PE ratio of 945.95 and a beta of 1.11. The business has a fifty day moving average of $8.21 and a 200 day moving average of $7.98. Amneal Pharmaceuticals, Inc. has a 52-week low of $6.68 and a 52-week high of $9.59.

Amneal Pharmaceuticals (NASDAQ:AMRX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Amneal Pharmaceuticals had a negative return on equity of 189.49% and a net margin of 0.12%. As a group, research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amneal Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Amneal Pharmaceuticals by 6.2% during the first quarter. Vanguard Group Inc. now owns 15,762,727 shares of the company's stock worth $132,092,000 after purchasing an additional 920,758 shares during the period. Rubric Capital Management LP lifted its holdings in shares of Amneal Pharmaceuticals by 9.1% during the second quarter. Rubric Capital Management LP now owns 11,710,332 shares of the company's stock worth $94,737,000 after purchasing an additional 974,355 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Amneal Pharmaceuticals by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,991,702 shares of the company's stock worth $39,531,000 after purchasing an additional 278,653 shares during the period. Nantahala Capital Management LLC lifted its holdings in shares of Amneal Pharmaceuticals by 14.7% during the second quarter. Nantahala Capital Management LLC now owns 4,367,438 shares of the company's stock worth $35,333,000 after purchasing an additional 558,877 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Amneal Pharmaceuticals by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,813,207 shares of the company's stock valued at $30,207,000 after acquiring an additional 26,536 shares during the period. Hedge funds and other institutional investors own 31.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Amneal Pharmaceuticals in a research note on Friday, June 6th. They issued a "buy" rating and a $12.00 price objective on the stock. Wall Street Zen cut shares of 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, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $11.60.

Read Our Latest Stock Report on Amneal Pharmaceuticals

About Amneal Pharmaceuticals

(Get Free Report)

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.