Jennison Associates LLC Boosts Stock Position in Amneal Pharmaceuticals, Inc. $AMRX

Jennison Associates LLC grew its position in Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,548 shares of the company’s stock after acquiring an additional 7,122 shares during the quarter. Jennison Associates LLC’s holdings in Amneal Pharmaceuticals were worth $635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas increased its holdings in shares of Amneal Pharmaceuticals by 12.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 42,124 shares of the company’s stock valued at $341,000 after acquiring an additional 4,596 shares during the last quarter. Convergence Investment Partners LLC increased its holdings in shares of Amneal Pharmaceuticals by 3.0% in the 2nd quarter. Convergence Investment Partners LLC now owns 159,769 shares of the company’s stock valued at $1,293,000 after acquiring an additional 4,650 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Amneal Pharmaceuticals by 12,388.2% in the 2nd quarter. AlphaQuest LLC now owns 49,703 shares of the company’s stock valued at $402,000 after acquiring an additional 49,305 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Amneal Pharmaceuticals by 21.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 73,754 shares of the company’s stock valued at $606,000 after acquiring an additional 13,187 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Amneal Pharmaceuticals by 58.9% in the 2nd quarter. CWM LLC now owns 23,962 shares of the company’s stock valued at $194,000 after acquiring an additional 8,882 shares during the last quarter. 31.82% of the stock is currently owned by institutional investors.

Amneal Pharmaceuticals Price Performance

Shares of AMRX opened at $10.81 on Friday. The company has a market cap of $3.40 billion, a P/E ratio of 1,082.08 and a beta of 1.18. The stock has a fifty day moving average price of $9.95 and a 200 day moving average price of $8.65. Amneal Pharmaceuticals, Inc. has a 12 month low of $6.68 and a 12 month high of $10.97.

Amneal Pharmaceuticals (NASDAQ:AMRX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Amneal Pharmaceuticals had a negative return on equity of 189.49% and a net margin of 0.12%. Amneal Pharmaceuticals has set its FY 2025 guidance at 0.750-0.80 EPS. As a group, research analysts anticipate that Amneal Pharmaceuticals, Inc. will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Amneal Pharmaceuticals news, EVP Andrew S. Boyer sold 279,244 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $9.38, for a total transaction of $2,619,308.72. Following the completion of the transaction, the executive vice president owned 152,426 shares in the company, valued at approximately $1,429,755.88. The trade was a 64.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nikita Shah sold 114,492 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $9.66, for a total value of $1,105,992.72. Following the transaction, the executive vice president owned 152,743 shares of the company’s stock, valued at $1,475,497.38. This trade represents a 42.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 609,206 shares of company stock worth $5,700,625. Insiders own 26.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target (up from $11.00) on shares of Amneal Pharmaceuticals in a report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Amneal Pharmaceuticals in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on Amneal Pharmaceuticals from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

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.