Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 1-Year Low – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) reached a new 52-week low on Friday . The company traded as low as $29.27 and last traded at $28.46, with a volume of 89984 shares changing hands. The stock had previously closed at $31.49.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AMPH shares. Piper Sandler lowered Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $66.00 to $36.00 in a research report on Tuesday, February 4th. Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.33.

Amphastar Pharmaceuticals Trading Down 9.7 %

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 firm has a 50 day moving average of $34.74 and a 200 day moving average of $42.57. The firm has a market cap of $1.37 billion, a PE ratio of 9.48, a P/E/G ratio of 2.19 and a beta of 0.81.

Insider Transactions at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 10,000 shares of the company’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 completion of the sale, the director now directly owns 30,471 shares in the company, valued at $1,333,715.67. This represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rong Zhou sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $44.42, for a total transaction of $310,940.00. Following the sale, the executive vice president now owns 118,469 shares of the company’s stock, valued at approximately $5,262,392.98. The trade was a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.10% of the company’s stock.

Institutional Trading of Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aurora Investment Counsel increased its position in shares of Amphastar Pharmaceuticals by 0.4% during the third quarter. Aurora Investment Counsel now owns 54,698 shares of the company’s stock valued at $2,654,000 after acquiring an additional 232 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Amphastar Pharmaceuticals by 20.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,761 shares of the company’s stock worth $85,000 after acquiring an additional 301 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Amphastar Pharmaceuticals by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company’s stock worth $43,000 after acquiring an additional 348 shares during the last quarter. Huntington National Bank boosted its stake in shares of Amphastar Pharmaceuticals by 36.9% during the 4th quarter. Huntington National Bank now owns 1,340 shares of the company’s stock worth $50,000 after acquiring an additional 361 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Amphastar Pharmaceuticals by 4.6% during the 4th quarter. Bank of Montreal Can now owns 8,215 shares of the company’s stock worth $305,000 after acquiring an additional 361 shares during the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

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.