Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Down 3.6%

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) traded down 3.6% on Wednesday . The stock traded as low as $46.58 and last traded at $46.59. 143,494 shares were traded during mid-day trading, a decline of 65% from the average session volume of 405,193 shares. The stock had previously closed at $48.35.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler decreased their target price on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Thursday, August 8th. Finally, StockNews.com raised shares of Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Amphastar Pharmaceuticals Price Performance

The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 0.92 and a beta of 0.82. The company has a current ratio of 3.52, a quick ratio of 2.63 and a debt-to-equity ratio of 0.82. The company’s 50 day simple moving average is $45.71 and its 200-day simple moving average is $42.79.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.75 by $0.10. The firm had revenue of $182.39 million during the quarter, compared to analysts’ expectations of $171.29 million. Amphastar Pharmaceuticals had a net margin of 23.36% and a return on equity of 29.79%. On average, equities research analysts predict that Amphastar Pharmaceuticals, Inc. will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

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 $3,504,256.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $46.47, for a total transaction of $139,410.00. Following the transaction, the director now owns 75,409 shares in the company, valued at approximately $3,504,256.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard K. Prins sold 17,101 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $43.07, for a total transaction of $736,540.07. Following the sale, the director now directly owns 33,971 shares of the company’s stock, valued at $1,463,130.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,383 shares of company stock valued at $1,524,123. Insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Annex Advisory Services LLC raised its position in shares of Amphastar Pharmaceuticals by 213.2% in the 4th quarter. Annex Advisory Services LLC now owns 13,860 shares of the company’s stock valued at $857,000 after purchasing an additional 9,435 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Amphastar Pharmaceuticals by 348.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 592,530 shares of the company’s stock valued at $36,648,000 after acquiring an additional 460,473 shares during the last quarter. Seven Eight Capital LP acquired a new position in Amphastar Pharmaceuticals during the 4th quarter worth $801,000. Shariaportfolio Inc. increased its position in shares of Amphastar Pharmaceuticals by 8.5% in the 4th quarter. Shariaportfolio Inc. now owns 13,574 shares of the company’s stock worth $840,000 after purchasing an additional 1,069 shares during the last quarter. Finally, Boone Capital Management LLC bought a new stake in shares of Amphastar Pharmaceuticals in the 4th quarter worth about $24,740,000. 65.09% of the stock is currently 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.