Amphastar Pharmaceuticals (NASDAQ:AMPH) Earns Equal Weight Rating from Analysts at Wells Fargo & Company

Analysts at Wells Fargo & Company assumed coverage on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating and a $55.00 price target on the stock. Wells Fargo & Company‘s price target points to a potential upside of 20.99% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. StockNews.com downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Piper Sandler dropped their price objective on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $60.33.

Amphastar Pharmaceuticals Price Performance

Shares of NASDAQ:AMPH opened at $45.46 on Friday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.89 and a beta of 0.82. Amphastar Pharmaceuticals has a 1 year low of $36.56 and a 1 year high of $65.92. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $48.26 and a 200 day simple moving average of $44.44.

Insiders Place Their Bets

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 7,426 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 $386,523.30. Following the completion of the sale, the chief financial officer now directly owns 94,103 shares of the company’s stock, valued at $4,898,061.15. This represents a 7.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $46.47, for a total value of $139,410.00. Following the sale, the director now directly owns 75,409 shares in the company, valued at approximately $3,504,256.23. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,533 shares of company stock valued at $1,571,652 over the last quarter. Insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Amphastar Pharmaceuticals by 70.0% in the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $32,000 after buying an additional 273 shares during the period. Innealta Capital LLC bought a new stake in Amphastar Pharmaceuticals in the second quarter valued at about $55,000. Point72 Asia Singapore Pte. Ltd. raised its position in Amphastar Pharmaceuticals by 53.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock worth $56,000 after purchasing an additional 398 shares in the last quarter. Blue Trust Inc. lifted its stake in Amphastar Pharmaceuticals by 23.9% during the second quarter. Blue Trust Inc. now owns 1,604 shares of the company’s stock worth $70,000 after purchasing an additional 309 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new stake in Amphastar Pharmaceuticals during the third quarter valued at approximately $78,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.

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.