Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 12-Month Low – Should You Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $30.86 and last traded at $30.73, with a volume of 240749 shares traded. The stock had previously closed at $31.02.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 target price for the company. Piper Sandler downgraded shares of Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $36.00 in a research note on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Amphastar Pharmaceuticals currently has an average rating of “Hold” and an average target price of $50.33.

Amphastar Pharmaceuticals Trading Down 0.9 %

The stock’s fifty day moving average price is $36.61 and its 200 day moving average price is $43.24. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.48 billion, a PE ratio of 10.25, a PEG ratio of 2.07 and a beta of 0.81.

Insider Activity

In related news, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $43.77, for a total value of $437,700.00. Following the sale, the director now owns 30,471 shares in the company, valued at approximately $1,333,715.67. This trade represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rong Zhou sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total transaction of $310,940.00. Following the completion of the sale, the executive vice president now owns 118,469 shares in the company, valued at $5,262,392.98. This represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its holdings in Amphastar Pharmaceuticals by 222.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock worth $26,000 after purchasing an additional 493 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Amphastar Pharmaceuticals by 806.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock worth $36,000 after purchasing an additional 871 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Amphastar Pharmaceuticals by 53.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock worth $56,000 after purchasing an additional 398 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Amphastar Pharmaceuticals by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company’s stock worth $43,000 after purchasing an additional 348 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in Amphastar Pharmaceuticals by 36.9% in the fourth quarter. Huntington National Bank now owns 1,340 shares of the company’s stock worth $50,000 after purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.