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

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shares gapped down prior to trading on Tuesday . The stock had previously closed at $33.39, but opened at $32.42. Amphastar Pharmaceuticals shares last traded at $33.20, with a volume of 79,754 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on AMPH shares. StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Piper Sandler lowered Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $36.00 in a report on Tuesday. Finally, Wells Fargo & Company assumed coverage on Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 target price on the stock. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.33.

Amphastar Pharmaceuticals Stock Performance

The stock has a market cap of $1.58 billion, a PE ratio of 10.92, a P/E/G ratio of 1.07 and a beta of 0.81. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average of $38.64 and a 200 day moving average of $43.81.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 5,000 shares of Amphastar Pharmaceuticals stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.80, for a total value of $244,000.00. Following the sale, the director now owns 31,471 shares in the company, valued at $1,535,784.80. The trade was a 13.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rong Zhou sold 6,893 shares of Amphastar Pharmaceuticals stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $336,929.84. Following the completion of the sale, the executive vice president now owns 118,388 shares in the company, valued at $5,786,805.44. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,893 shares of company stock worth $1,329,570. 27.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of institutional investors have recently modified their holdings of AMPH. Pacer Advisors Inc. grew its stake in shares of Amphastar Pharmaceuticals by 51,977.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,350,368 shares of the company’s stock valued at $50,139,000 after buying an additional 1,347,775 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at $26,189,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at $10,804,000. Portolan Capital Management LLC grew its stake in shares of Amphastar Pharmaceuticals by 201.1% in the third quarter. Portolan Capital Management LLC now owns 327,764 shares of the company’s stock valued at $15,906,000 after buying an additional 218,901 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $4,967,000. 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.