Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Up 3.3% – What’s Next?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price traded up 3.3% during mid-day trading on Monday . The stock traded as high as $32.16 and last traded at $32.33. 64,789 shares traded hands during trading, a decline of 88% from the average session volume of 521,971 shares. The stock had previously closed at $31.28.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMPH. Piper Sandler lowered Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $66.00 to $36.00 in a research report on Tuesday, February 4th. Wells Fargo & Company initiated coverage on shares of Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They set an “equal weight” rating and a $55.00 price objective on the stock. Finally, StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.33.

Amphastar Pharmaceuticals Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43. The company has a market capitalization of $1.50 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.19 and a beta of 0.81. The company has a 50-day simple moving average of $35.27 and a 200 day simple moving average of $42.83.

Insider Buying and Selling

In related news, EVP Rong Zhou sold 7,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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 in the company, valued at approximately $5,262,392.98. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard K. Prins sold 10,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $43.77, for a total value of $437,700.00. Following the transaction, the director now 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 disclosure for this sale can be found here. 27.10% of the stock is currently owned by insiders.

Institutional Trading of Amphastar Pharmaceuticals

A number of hedge funds have recently modified their holdings of AMPH. 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 purchasing an additional 232 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Amphastar Pharmaceuticals by 20.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,761 shares of the company’s stock valued at $85,000 after buying an additional 301 shares during the period. Tower Research Capital LLC TRC increased its holdings in Amphastar Pharmaceuticals by 43.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company’s stock valued at $43,000 after buying an additional 348 shares during the period. Huntington National Bank raised its stake in shares of Amphastar Pharmaceuticals by 36.9% in the 4th 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. Finally, Bank of Montreal Can lifted its holdings 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 period. Institutional investors own 65.09% of the company’s stock.

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.