Amphastar Pharmaceuticals (NASDAQ:AMPH) Downgraded to “Neutral” Rating by Piper Sandler

Piper Sandler cut shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from an overweight rating to a neutral rating in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has $36.00 price objective on the stock, down from their previous price objective of $66.00.

A number of other research analysts also recently issued reports on the company. StockNews.com downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company initiated coverage on shares of Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.33.

Amphastar Pharmaceuticals Price Performance

Shares of AMPH opened at $33.19 on Tuesday. The stock has a 50 day simple moving average of $38.89 and a 200 day simple moving average of $43.88. Amphastar Pharmaceuticals has a 52-week low of $32.25 and a 52-week high of $56.45. 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 firm has a market capitalization of $1.60 billion, a PE ratio of 11.06, a P/E/G ratio of 1.07 and a beta of 0.81.

Insider Transactions at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 5,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.80, for a total value of $244,000.00. Following the completion of the sale, the director now owns 31,471 shares in the company, valued at $1,535,784.80. This trade represents a 13.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rong Zhou sold 7,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $44.42, for a total transaction of $310,940.00. Following the transaction, the executive vice president now owns 118,469 shares in the company, valued at $5,262,392.98. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,893 shares of company stock worth $1,329,570 in the last 90 days. Corporate insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMPH. The Manufacturers Life Insurance Company boosted its position in Amphastar Pharmaceuticals by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,246 shares of the company’s stock worth $890,000 after purchasing an additional 954 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Amphastar Pharmaceuticals during the 2nd quarter worth about $388,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Amphastar Pharmaceuticals during the 2nd quarter worth about $364,000. SG Americas Securities LLC bought a new position in Amphastar Pharmaceuticals in the 3rd quarter valued at about $1,710,000. Finally, GAMMA Investing LLC lifted its position in Amphastar Pharmaceuticals by 70.0% during the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $32,000 after acquiring an additional 273 shares during the last quarter. 65.09% of the stock is currently 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.