Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Down 3.6%

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price dropped 3.6% on Wednesday . The company traded as low as $46.58 and last traded at $46.59. Approximately 143,494 shares traded hands during trading, a decline of 65% from the average daily volume of 405,193 shares. The stock had previously closed at $48.35.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Thursday, August 8th. Finally, StockNews.com upgraded Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Amphastar Pharmaceuticals Trading Down 3.2 %

The firm’s 50-day simple moving average is $45.71 and its 200 day simple moving average is $42.79. The stock has a market cap of $2.29 billion, a P/E ratio of 16.73, a PEG ratio of 0.92 and a beta of 0.82. The company has a current ratio of 3.52, a quick ratio of 2.63 and a debt-to-equity ratio of 0.82.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The business had revenue of $182.39 million during the quarter, compared to analyst estimates of $171.29 million. Amphastar Pharmaceuticals had a return on equity of 29.79% and a net margin of 23.36%. As a group, equities research analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.71 earnings per share for the current year.

Insider Activity at Amphastar Pharmaceuticals

In related news, Director Floyd F. Petersen sold 3,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $46.47, for a total value of $139,410.00. Following the completion of the transaction, the director now owns 75,409 shares in the company, valued at approximately $3,504,256.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard K. Prins sold 17,101 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $43.07, for a total value of $736,540.07. Following the sale, the director now directly owns 33,971 shares in the company, valued at approximately $1,463,130.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Floyd F. Petersen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the sale, the director now owns 75,409 shares of the company’s stock, valued at $3,504,256.23. The disclosure for this sale can be found here. Insiders have sold a total of 34,383 shares of company stock worth $1,524,123 over the last ninety days. 27.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Amphastar Pharmaceuticals during the 2nd quarter worth about $364,000. Cim LLC increased its position in shares of Amphastar Pharmaceuticals by 7.5% in the second quarter. Cim LLC now owns 10,016 shares of the company’s stock worth $401,000 after acquiring an additional 701 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Amphastar Pharmaceuticals during the second quarter valued at approximately $388,000. Aurora Investment Counsel purchased a new stake in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at approximately $2,179,000. Finally, Invst LLC boosted its stake in Amphastar Pharmaceuticals by 101.3% in the 2nd quarter. Invst LLC now owns 11,638 shares of the company’s stock worth $448,000 after purchasing an additional 5,857 shares during the period. Institutional investors and hedge funds 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.