Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 1-Year Low – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shares hit a new 52-week low on Monday . The stock traded as low as $35.54 and last traded at $35.54, with a volume of 76329 shares trading hands. The stock had previously closed at $36.30.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMPH. StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company assumed coverage on shares of Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Trading Up 3.9 %

The firm’s 50 day moving average is $43.31 and its 200 day moving average is $44.28. The company has a market cap of $1.76 billion, a PE ratio of 12.21, a PEG ratio of 0.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.43 and a quick ratio of 2.61.

Insiders Place Their Bets

In other Amphastar Pharmaceuticals news, EVP Yakob Liawatidewi sold 5,214 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.05, for a total value of $271,388.70. Following the completion of the sale, the executive vice president now directly owns 74,938 shares in the company, valued at $3,900,522.90. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO William J. Peters sold 7,426 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total value of $386,523.30. Following the transaction, the chief financial officer now owns 94,103 shares in the company, valued at $4,898,061.15. This trade represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,533 shares of company stock valued at $1,987,482 over the last three months. Insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in shares of Amphastar Pharmaceuticals by 10.9% during the 3rd quarter. Victory Capital Management Inc. now owns 218,531 shares of the company’s stock valued at $10,605,000 after buying an additional 21,530 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the 3rd quarter valued at about $11,070,000. Wellington Management Group LLP bought a new stake in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at approximately $957,000. Intech Investment Management LLC bought a new position in Amphastar Pharmaceuticals during the second quarter valued at $426,000. Finally, XTX Topco Ltd purchased a new stake in Amphastar Pharmaceuticals in the 3rd quarter worth about $674,000. 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.