5 New Penny Stocks Redditors are Buying

1. Amneal Pharmaceuticals, Inc. (NYSE: AMRX)

Number of Hedge Fund Holders: 17    

Amneal Pharmaceuticals, Inc. (NYSE: AMRX) is ranked first on our list of 10 new penny stocks Redditors are buying. The firm makes and sells specialty pharmaceutical products and is headquartered in New Jersey. 

In April, investment advisory Guggenheim reiterated a Buy rating on Amneal Pharmaceuticals, Inc. (NYSE: AMRX) stock and raised the price target to $8 from $6.50, noting that the firm had driven a strong initial launch of a new drug. 

At the end of the second quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $53 million in Amneal Pharmaceuticals, Inc. (NYSE: AMRX), up from 15 in the previous quarter worth $77 million.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Eversept Partners is a leading shareholder in Amneal Pharmaceuticals, Inc. (NYSE: AMRX) with 5.6 million shares worth more than $28 million. 

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