Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Down 2.6% – Should You Sell?

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

Analysts Set New Price Targets

AMPH has been the subject of a number of recent analyst reports. 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 objective for the company. StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $60.33.

Amphastar Pharmaceuticals Price Performance

The stock has a market capitalization of $1.83 billion, a PE ratio of 12.69, a PEG ratio of 0.87 and a beta of 0.78. The firm’s fifty day moving average price is $46.26 and its two-hundred day moving average price is $44.56. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling at Amphastar Pharmaceuticals

In other news, EVP Rong Zhou sold 6,893 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $336,929.84. Following the transaction, the executive vice president now owns 118,388 shares in the company, valued at $5,786,805.44. This represents a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yakob Liawatidewi sold 5,214 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $52.05, for a total transaction of $271,388.70. Following the sale, the executive vice president now owns 74,938 shares of the company’s stock, valued at $3,900,522.90. This trade represents a 6.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,533 shares of company stock worth $1,987,482. Insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its holdings in Amphastar Pharmaceuticals by 16.9% in the 2nd quarter. Raymond James & Associates now owns 114,719 shares of the company’s stock worth $4,589,000 after purchasing an additional 16,574 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Amphastar Pharmaceuticals by 3.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the company’s stock valued at $768,000 after buying an additional 700 shares in the last quarter. Legato Capital Management LLC grew its stake in shares of Amphastar Pharmaceuticals by 41.0% during the 2nd quarter. Legato Capital Management LLC now owns 14,810 shares of the company’s stock valued at $592,000 after acquiring an additional 4,303 shares during the period. Arkadios Wealth Advisors purchased a new stake in Amphastar Pharmaceuticals in the 2nd quarter worth approximately $1,030,000. Finally, Innealta Capital LLC bought a new stake in Amphastar Pharmaceuticals during the 2nd quarter worth approximately $55,000. 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.