Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 1-Year Low – Here’s Why

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

Wall Street Analyst Weigh In

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

Amphastar Pharmaceuticals Stock Down 9.7 %

The business has a 50 day simple moving average of $34.95 and a 200 day simple moving average of $42.67. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 2.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.43 and a quick ratio of 2.61.

Insider Buying and Selling

In related news, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, December 9th. The stock was sold at an average price of $43.77, for a total value of $437,700.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rong Zhou sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $44.42, for a total value of $310,940.00. Following the sale, the executive vice president now owns 118,469 shares in the company, valued at approximately $5,262,392.98. This trade represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. 27.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of Amphastar Pharmaceuticals by 222.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $26,000 after purchasing an additional 493 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Amphastar Pharmaceuticals by 806.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock worth $36,000 after buying an additional 871 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Amphastar Pharmaceuticals during the fourth quarter worth approximately $38,000. Tower Research Capital LLC TRC grew its position in Amphastar Pharmaceuticals by 43.7% during the 4th 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 increased its position in Amphastar Pharmaceuticals by 36.9% in the 4th quarter. Huntington National Bank now owns 1,340 shares of the company’s stock valued at $50,000 after acquiring an additional 361 shares during the period. 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.