Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Down 2.4% – Here’s Why

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) fell 2.4% on Wednesday . The company traded as low as $37.20 and last traded at $37.56. 112,097 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 572,408 shares. The stock had previously closed at $38.48.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMPH. StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company began coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.33.

Amphastar Pharmaceuticals Stock Performance

The stock has a market cap of $1.71 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.82. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average price of $41.40 and a 200 day moving average price of $44.06.

Insider Activity

In other news, CFO William J. Peters sold 7,426 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total transaction of $386,523.30. Following the transaction, the chief financial officer now owns 94,103 shares in the company, valued at approximately $4,898,061.15. This trade represents a 7.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Yakob Liawatidewi sold 5,214 shares of the firm’s 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 owns 74,938 shares in the company, valued at approximately $3,900,522.90. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,533 shares of company stock worth $1,987,482. Company insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in AMPH. Texas Permanent School Fund Corp boosted its position in Amphastar Pharmaceuticals by 18.1% during the second quarter. Texas Permanent School Fund Corp now owns 38,626 shares of the company’s stock valued at $1,545,000 after purchasing an additional 5,922 shares in the last quarter. American Century Companies Inc. boosted its position in Amphastar Pharmaceuticals by 19.7% during the second quarter. American Century Companies Inc. now owns 740,408 shares of the company’s stock valued at $29,616,000 after purchasing an additional 121,764 shares in the last quarter. Intech Investment Management LLC bought a new stake in Amphastar Pharmaceuticals during the second quarter valued at about $426,000. Granite Investment Partners LLC boosted its position in Amphastar Pharmaceuticals by 12.7% during the second quarter. Granite Investment Partners LLC now owns 397,514 shares of the company’s stock valued at $15,901,000 after purchasing an additional 44,744 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in Amphastar Pharmaceuticals by 35.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company’s stock valued at $43,154,000 after purchasing an additional 280,390 shares in the last quarter. 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.