Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Down 2.6% – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price dropped 2.6% during mid-day trading on Tuesday . The company traded as low as $37.93 and last traded at $38.12. Approximately 114,650 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 414,313 shares. The stock had previously closed at $39.12.

Analysts Set New Price Targets

Several research firms recently commented on AMPH. StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company began coverage on shares of Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They set an “equal weight” rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.33.

Amphastar Pharmaceuticals Stock Performance

The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.87 and a beta of 0.78. 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 stock has a 50 day simple moving average of $46.04 and a two-hundred day simple moving average of $44.54.

Insider Transactions at Amphastar Pharmaceuticals

In related news, EVP Yakob Liawatidewi sold 5,214 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $52.05, for a total value of $271,388.70. Following the transaction, the executive vice president now directly owns 74,938 shares of the company’s stock, valued at $3,900,522.90. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard K. Prins sold 5,000 shares of Amphastar Pharmaceuticals stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.80, for a total transaction of $244,000.00. Following the sale, the director now owns 31,471 shares in the company, valued at $1,535,784.80. This represents a 13.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,533 shares of company stock valued at $1,987,482. Corporate insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMPH. TD Asset Management Inc boosted its holdings in shares of Amphastar Pharmaceuticals by 67.4% in the second quarter. TD Asset Management Inc now owns 1,691,569 shares of the company’s stock valued at $67,663,000 after acquiring an additional 680,976 shares during the period. Boston Trust Walden Corp purchased a new stake in Amphastar Pharmaceuticals in the 3rd quarter valued at $26,189,000. Millennium Management LLC boosted its stake in Amphastar Pharmaceuticals by 84.6% during the 2nd quarter. Millennium Management LLC now owns 738,748 shares of the company’s stock worth $29,550,000 after purchasing an additional 338,653 shares during the period. Epoch Investment Partners Inc. grew its position in Amphastar Pharmaceuticals by 35.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company’s stock worth $43,154,000 after purchasing an additional 280,390 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Amphastar Pharmaceuticals in the second quarter valued at $9,085,000. Hedge funds and other 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.