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

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

Analyst Upgrades and Downgrades

AMPH has been the topic of a number of analyst reports. StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company assumed coverage on shares of Amphastar Pharmaceuticals in a report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Price Performance

The business has a 50 day simple moving average of $46.26 and a two-hundred day simple moving average of $44.56. The firm has a market capitalization of $1.83 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 0.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43.

Insider Activity at Amphastar Pharmaceuticals

In related news, EVP Yakob Liawatidewi sold 5,214 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total transaction of $271,388.70. Following the transaction, the executive vice president now directly owns 74,938 shares of the company’s stock, valued at approximately $3,900,522.90. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rong Zhou sold 6,893 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total transaction of $336,929.84. Following the sale, the executive vice president now owns 118,388 shares of the company’s stock, valued at approximately $5,786,805.44. The trade was a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,533 shares of company stock valued at $1,987,482 over the last three months. 27.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. World Investment Advisors LLC bought a new position in Amphastar Pharmaceuticals during the 3rd quarter valued at approximately $1,614,000. Sanctuary Advisors LLC grew its stake in shares of Amphastar Pharmaceuticals by 8.5% in the third quarter. Sanctuary Advisors LLC now owns 10,240 shares of the company’s stock worth $466,000 after acquiring an additional 801 shares during the last quarter. Invst LLC increased its holdings in shares of Amphastar Pharmaceuticals by 23.6% during the third quarter. Invst LLC now owns 14,390 shares of the company’s stock valued at $698,000 after acquiring an additional 2,752 shares in the last quarter. Hohimer Wealth Management LLC purchased a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter worth about $339,000. Finally, Geode Capital Management LLC boosted its stake in Amphastar Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 920,363 shares of the company’s stock worth $44,674,000 after purchasing an additional 14,015 shares in the last quarter. 65.09% of the stock is currently owned by institutional investors.

About Amphastar Pharmaceuticals

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.