Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 52-Week Low – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s share price reached a new 52-week low on Friday . The company traded as low as $29.27 and last traded at $28.46, with a volume of 89984 shares. The stock had previously closed at $31.49.

Wall Street Analyst Weigh In

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

Amphastar Pharmaceuticals Stock Down 9.7 %

The business’s fifty day moving average price is $34.95 and its two-hundred day moving average price is $42.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.43 and a quick ratio of 2.61. The stock has a market capitalization of $1.37 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMPH. Smartleaf Asset Management LLC increased its stake in Amphastar Pharmaceuticals by 222.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock worth $26,000 after buying an additional 493 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of 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 acquiring an additional 871 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Amphastar Pharmaceuticals during the fourth quarter worth approximately $38,000. Point72 Asia Singapore Pte. Ltd. raised its stake in Amphastar Pharmaceuticals by 53.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock valued at $56,000 after purchasing an additional 398 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Amphastar Pharmaceuticals by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company’s stock worth $43,000 after buying an additional 348 shares in the last quarter. Institutional investors and hedge funds 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.