Amphastar Pharmaceuticals (NASDAQ:AMPH) Reaches New 12-Month Low – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $26.88 and last traded at $27.34, with a volume of 34005 shares. The stock had previously closed at $27.33.

Analyst Ratings Changes

Several brokerages have issued reports on AMPH. Wells Fargo & Company started coverage on shares of Amphastar Pharmaceuticals in a report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price target on the stock. Piper Sandler cut Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $66.00 to $36.00 in a report on Tuesday, February 4th.

Amphastar Pharmaceuticals Price Performance

The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 2.19 and a beta of 0.77. The company has a fifty day simple moving average of $33.35 and a two-hundred day simple moving average of $41.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43.

Insider Buying and Selling

In other news, CFO William J. Peters sold 4,231 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $27.54, for a total transaction of $116,521.74. Following the completion of the sale, the chief financial officer now directly owns 97,363 shares of the company’s stock, valued at $2,681,377.02. The trade was a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rong Zhou sold 7,000 shares of the company’s 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 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. 27.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of Amphastar Pharmaceuticals by 222.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $26,000 after purchasing an additional 493 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Amphastar Pharmaceuticals by 806.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock valued at $36,000 after acquiring an additional 871 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Amphastar Pharmaceuticals during the 4th quarter valued at $38,000. Tower Research Capital LLC TRC boosted its position in 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 purchasing an additional 348 shares during the period. Finally, Huntington National Bank grew its stake in shares of Amphastar Pharmaceuticals by 36.9% in the fourth quarter. Huntington National Bank now owns 1,340 shares of the company’s stock valued at $50,000 after buying an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.

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.