Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 12-Month Low – Here’s Why

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) hit a new 52-week low 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

A number of research firms have recently weighed in on AMPH. StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company assumed coverage on shares of Amphastar Pharmaceuticals in a report on Friday, November 22nd. They set an “equal weight” rating and a $55.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.33.

Amphastar Pharmaceuticals Trading Up 0.8 %

The stock’s 50 day moving average is $44.50 and its 200-day moving average is $44.38. The company has a market cap of $1.79 billion, a P/E ratio of 12.38, a PEG ratio of 0.87 and a beta of 0.78. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82.

Insiders Place Their Bets

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 7,426 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total value of $386,523.30. Following the completion of the transaction, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $4,898,061.15. The trade was a 7.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $43.77, for a total transaction of $437,700.00. Following the sale, the director now directly owns 30,471 shares in the company, valued at approximately $1,333,715.67. The trade was a 24.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,533 shares of company stock valued at $1,987,482. Insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in Amphastar Pharmaceuticals by 70.0% during the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $32,000 after buying an additional 273 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Amphastar Pharmaceuticals by 53.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock valued at $56,000 after acquiring an additional 398 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Amphastar Pharmaceuticals during the third quarter valued at $78,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Amphastar Pharmaceuticals by 20.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,761 shares of the company’s stock valued at $85,000 after acquiring an additional 301 shares during the period. Finally, nVerses Capital LLC boosted its position in Amphastar Pharmaceuticals by 37.5% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $88,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 65.09% of the company’s stock.

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.