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

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

Wall Street Analysts Forecast Growth

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

Amphastar Pharmaceuticals Trading Down 1.9 %

The company has a market cap of $1.71 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 0.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43. The business’s 50 day moving average price is $43.95 and its 200-day moving average price is $44.32.

Insider Transactions at Amphastar Pharmaceuticals

In related news, Director Richard K. Prins sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.80, for a total transaction of $244,000.00. Following the completion of the transaction, the director now owns 31,471 shares in the company, valued at approximately $1,535,784.80. The trade was a 13.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rong Zhou sold 7,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $44.42, for a total transaction of $310,940.00. Following the completion of the transaction, the executive vice president now directly owns 118,469 shares in the company, valued at approximately $5,262,392.98. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,533 shares of company stock valued at $1,987,482. 27.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in shares of Amphastar Pharmaceuticals by 1.6% in the second quarter. Rhumbline Advisers now owns 90,587 shares of the company’s stock valued at $3,623,000 after acquiring an additional 1,394 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Amphastar Pharmaceuticals by 3.9% in the second quarter. Arizona State Retirement System now owns 10,943 shares of the company’s stock worth $438,000 after acquiring an additional 410 shares during the last quarter. Gallacher Capital Management LLC bought a new position in shares of Amphastar Pharmaceuticals in the second quarter worth about $279,000. Quest Partners LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 434,800.0% in the second quarter. Quest Partners LLC now owns 4,349 shares of the company’s stock worth $174,000 after acquiring an additional 4,348 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Amphastar Pharmaceuticals by 18.1% in the second quarter. Texas Permanent School Fund Corp now owns 38,626 shares of the company’s stock worth $1,545,000 after acquiring an additional 5,922 shares during the last quarter. 65.09% of the stock is currently owned by institutional investors and hedge funds.

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.