Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 42.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,064 shares of the company’s stock after selling 10,199 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Amphastar Pharmaceuticals were worth $511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Amphastar Pharmaceuticals by 10.9% during the third quarter. Victory Capital Management Inc. now owns 218,531 shares of the company’s stock worth $10,605,000 after acquiring an additional 21,530 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter worth about $11,070,000. Pacer Advisors Inc. increased its holdings in Amphastar Pharmaceuticals by 51,977.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,350,368 shares of the company’s stock worth $50,139,000 after purchasing an additional 1,347,775 shares during the period. Wellington Management Group LLP purchased a new stake in Amphastar Pharmaceuticals during the 3rd quarter worth about $957,000. Finally, XTX Topco Ltd purchased a new stake in Amphastar Pharmaceuticals during the 3rd quarter worth about $674,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Rong Zhou sold 7,000 shares of Amphastar Pharmaceuticals stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total value of $310,940.00. Following the completion of the sale, the executive vice president now owns 118,469 shares of the company’s stock, valued at $5,262,392.98. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, December 9th. The shares were sold at an average price of $43.77, for a total value of $437,700.00. Following the completion of the sale, the director now directly owns 30,471 shares of the company’s stock, valued at approximately $1,333,715.67. This represents a 24.71 % decrease in their position. The disclosure for this sale can be found here. 27.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMPH shares. StockNews.com downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Piper Sandler cut Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $36.00 in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.33.

Amphastar Pharmaceuticals Stock Performance

NASDAQ AMPH opened at $32.29 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.43 and a quick ratio of 2.61. The business has a 50 day moving average price of $35.45 and a 200 day moving average price of $42.91. The company has a market capitalization of $1.55 billion, a P/E ratio of 10.76, a PEG ratio of 2.19 and a beta of 0.81. Amphastar Pharmaceuticals, Inc. has a 1-year low of $30.34 and a 1-year high of $56.38.

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.