Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Down 2.4% – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price traded down 2.4% during trading on Wednesday . The company traded as low as $37.20 and last traded at $37.56. 112,097 shares were traded during trading, a decline of 80% from the average session volume of 572,408 shares. The stock had previously closed at $38.48.

Analyst Upgrades and Downgrades

AMPH has been the topic of several recent analyst reports. StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. 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 objective for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $60.33.

Amphastar Pharmaceuticals Trading Down 3.7 %

The company has a market cap of $1.78 billion, a P/E ratio of 12.35, a PEG ratio of 0.87 and a beta of 0.82. The business has a 50 day moving average price of $41.95 and a 200-day moving average price of $44.17. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82.

Insider Activity

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

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in AMPH. Rhumbline Advisers increased its holdings in 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 purchasing an additional 1,394 shares during the period. Arizona State Retirement System boosted its holdings in Amphastar Pharmaceuticals by 3.9% in the second quarter. Arizona State Retirement System now owns 10,943 shares of the company’s stock valued at $438,000 after acquiring an additional 410 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Amphastar Pharmaceuticals by 18.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 38,626 shares of the company’s stock valued at $1,545,000 after purchasing an additional 5,922 shares during the period. American Century Companies Inc. raised its holdings in Amphastar Pharmaceuticals by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 740,408 shares of the company’s stock worth $29,616,000 after purchasing an additional 121,764 shares during the last quarter. Finally, WINTON GROUP Ltd increased its position in shares of Amphastar Pharmaceuticals by 8.0% during the second quarter. WINTON GROUP Ltd now owns 22,234 shares of the company’s stock worth $889,000 after buying an additional 1,653 shares during the period. 65.09% of the stock is currently owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

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.