Amphastar Pharmaceuticals (NASDAQ:AMPH) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company started coverage on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a report released on Friday, Marketbeat reports. The firm set an “equal weight” rating and a $55.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 20.99% from the company’s previous close.

Several other equities research analysts have also commented on the stock. StockNews.com lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 8th. Finally, Piper Sandler reduced their price target on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Amphastar Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $60.33.

Amphastar Pharmaceuticals Stock Up 2.0 %

Amphastar Pharmaceuticals stock opened at $45.46 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43. Amphastar Pharmaceuticals has a one year low of $36.56 and a one year high of $65.92. The company has a 50-day simple moving average of $48.26 and a 200-day simple moving average of $44.44. The firm has a market capitalization of $2.19 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.89 and a beta of 0.82.

Insider Buying and Selling

In related news, Director Floyd F. Petersen sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 75,409 shares of the company’s stock, valued at $3,504,256.23. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rong Zhou sold 4,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $48.35, for a total transaction of $193,400.00. Following the completion of the transaction, the executive vice president now owns 118,388 shares in the company, valued at approximately $5,724,059.80. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,533 shares of company stock valued at $1,571,652 over the last quarter. Corporate insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Large investors have recently modified their holdings of the stock. UniSuper Management Pty Ltd purchased a new stake in shares of Amphastar Pharmaceuticals during the first quarter valued at $296,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Amphastar Pharmaceuticals by 29.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 39,930 shares of the company’s stock worth $1,752,000 after buying an additional 9,037 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Amphastar Pharmaceuticals by 34.8% in the first quarter. Epoch Investment Partners Inc. now owns 798,462 shares of the company’s stock worth $35,060,000 after acquiring an additional 205,932 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of Amphastar Pharmaceuticals by 35.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 112,428 shares of the company’s stock worth $4,937,000 after acquiring an additional 29,182 shares in the last quarter. Finally, Hancock Whitney Corp raised its holdings in shares of Amphastar Pharmaceuticals by 58.4% during the first quarter. Hancock Whitney Corp now owns 6,107 shares of the company’s stock valued at $268,000 after acquiring an additional 2,252 shares during the period. 65.09% of the stock is owned by 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.