Wells Fargo & Company Begins Coverage on Amphastar Pharmaceuticals (NASDAQ:AMPH)

Equities research analysts at Wells Fargo & Company initiated coverage on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $55.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 23.68% from the stock’s current price.

Several other equities analysts also recently weighed in on AMPH. Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Thursday, August 8th. StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Piper Sandler decreased their price objective on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Stock Performance

Amphastar Pharmaceuticals stock opened at $44.47 on Friday. 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 stock has a fifty day moving average of $48.36 and a two-hundred day moving average of $44.42. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.87 and a beta of 0.82. Amphastar Pharmaceuticals has a fifty-two week low of $36.56 and a fifty-two week high of $65.92.

Insider Activity at Amphastar Pharmaceuticals

In related news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total value of $139,410.00. Following the transaction, the director now owns 75,409 shares in the company, valued at approximately $3,504,256.23. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yakob Liawatidewi sold 5,214 shares of Amphastar Pharmaceuticals stock in a transaction on 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 transaction, the executive vice president now owns 74,938 shares in the company, valued at $3,900,522.90. The trade was a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,533 shares of company stock worth $1,571,652. 27.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its position in shares of Amphastar Pharmaceuticals by 67.4% during the second quarter. TD Asset Management Inc now owns 1,691,569 shares of the company’s stock worth $67,663,000 after acquiring an additional 680,976 shares during the last quarter. Epoch Investment Partners Inc. increased its position in shares of Amphastar Pharmaceuticals by 35.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company’s stock worth $43,154,000 after acquiring an additional 280,390 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Amphastar Pharmaceuticals by 1.5% during the third quarter. Geode Capital Management LLC now owns 920,363 shares of the company’s stock worth $44,674,000 after acquiring an additional 14,015 shares during the last quarter. American Century Companies Inc. increased its position in shares of Amphastar Pharmaceuticals by 19.7% during the second quarter. American Century Companies Inc. now owns 740,408 shares of the company’s stock worth $29,616,000 after acquiring an additional 121,764 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Amphastar Pharmaceuticals by 84.6% in the second quarter. Millennium Management LLC now owns 738,748 shares of the company’s stock valued at $29,550,000 after buying an additional 338,653 shares during the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

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.