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

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) traded down 2.4% on Wednesday . The stock traded as low as $37.20 and last traded at $37.56. 112,097 shares changed 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

Several equities research analysts have weighed in on the company. StockNews.com downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company assumed coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from 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 capitalization of $1.71 billion, a PE ratio of 11.89, a PEG 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 at Amphastar Pharmaceuticals

In related news, Director Richard K. Prins sold 5,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 31,471 shares in the company, valued at approximately $1,535,784.80. This trade represents a 13.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William J. Peters sold 7,426 shares of Amphastar Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $4,898,061.15. This represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,533 shares of company stock worth $1,987,482. 27.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Boston Trust Walden Corp purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at approximately $26,189,000. Millennium Management LLC increased its position in shares of Amphastar Pharmaceuticals by 84.6% in the second quarter. Millennium Management LLC now owns 738,748 shares of the company’s stock valued at $29,550,000 after buying an additional 338,653 shares in the last quarter. Epoch Investment Partners Inc. increased its position in shares of Amphastar Pharmaceuticals by 35.1% in the second quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company’s stock valued at $43,154,000 after buying an additional 280,390 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Amphastar Pharmaceuticals in the second quarter valued at approximately $9,085,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at approximately $10,804,000. 65.09% of the stock is currently owned by hedge funds and other 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.