Cibc World Markets Corp Invests $118,000 in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX)

Cibc World Markets Corp acquired a new stake in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) in the fourth quarter, Holdings Channel reports. The firm acquired 14,892 shares of the company’s stock, valued at approximately $118,000.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Amneal Pharmaceuticals by 58.7% in the third quarter. Victory Capital Management Inc. now owns 99,215 shares of the company’s stock valued at $825,000 after buying an additional 36,700 shares during the period. Quest Partners LLC bought a new stake in Amneal Pharmaceuticals in the third quarter valued at approximately $84,000. Intech Investment Management LLC acquired a new stake in Amneal Pharmaceuticals during the 3rd quarter valued at approximately $307,000. Charles Schwab Investment Management Inc. raised its holdings in Amneal Pharmaceuticals by 16.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,404,883 shares of the company’s stock worth $11,689,000 after purchasing an additional 202,863 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Amneal Pharmaceuticals by 274.8% in the 3rd quarter. Quantbot Technologies LP now owns 111,181 shares of the company’s stock worth $925,000 after purchasing an additional 81,519 shares during the period. 31.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Amneal Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $9.00 to $12.00 in a research report on Monday, February 24th. Barclays increased their price target on Amneal Pharmaceuticals from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Finally, StockNews.com downgraded Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.80.

Amneal Pharmaceuticals Trading Down 1.1 %

NASDAQ:AMRX opened at $8.27 on Friday. The firm has a fifty day simple moving average of $8.42 and a two-hundred day simple moving average of $8.37. Amneal Pharmaceuticals, Inc. has a 12 month low of $5.18 and a 12 month high of $9.48. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -12.16 and a beta of 1.05.

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

Insider Transactions at Amneal Pharmaceuticals

In related news, major shareholder Tushar Bhikhubhai Patel sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.35, for a total value of $41,750,000.00. Following the transaction, the insider now owns 48,578,209 shares of the company’s stock, valued at approximately $405,628,045.15. This trade represents a 9.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gautam Patel sold 62,590 shares of Amneal Pharmaceuticals stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $8.01, for a total value of $501,345.90. Following the transaction, the director now owns 1,968,886 shares of the company’s stock, valued at $15,770,776.86. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,240,000 shares of company stock valued at $43,754,000 over the last ninety days. 26.56% of the stock is owned by company insiders.

Amneal Pharmaceuticals 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.