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

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) reached a new 52-week low during trading on Tuesday . The stock traded as low as $36.49 and last traded at $36.68, with a volume of 157824 shares. The stock had previously closed at $36.84.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMPH shares. Wells Fargo & Company assumed 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 objective for the company. StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.33.

Amphastar Pharmaceuticals Price Performance

The company’s fifty day simple moving average is $45.02 and its two-hundred day simple moving average is $44.45. The stock has a market capitalization of $1.76 billion, a PE ratio of 12.22, a P/E/G ratio of 0.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43.

Insiders Place Their Bets

In other news, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.80, for a total transaction of $244,000.00. Following the completion of the sale, the director now directly owns 31,471 shares in the company, valued at $1,535,784.80. This trade represents a 13.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rong Zhou sold 7,000 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 118,469 shares of the company’s stock, valued at $5,262,392.98. This represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,533 shares of company stock worth $1,987,482 over the last three months. 27.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. World Investment Advisors LLC acquired a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at about $1,614,000. Sanctuary Advisors LLC increased its holdings in shares of Amphastar Pharmaceuticals by 8.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,240 shares of the company’s stock worth $466,000 after acquiring an additional 801 shares during the period. Invst LLC lifted its position in Amphastar Pharmaceuticals by 23.6% in the 3rd quarter. Invst LLC now owns 14,390 shares of the company’s stock valued at $698,000 after purchasing an additional 2,752 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter valued at about $339,000. Finally, Geode Capital Management LLC grew its position in Amphastar Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 920,363 shares of the company’s stock worth $44,674,000 after purchasing an additional 14,015 shares during the last quarter. 65.09% of the stock is 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.