Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 1-Year Low – Should You Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $32.08 and last traded at $31.96, with a volume of 18089 shares trading hands. The stock had previously closed at $32.37.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler cut shares of Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $66.00 to $36.00 in a research note on Tuesday, February 4th. Wells Fargo & Company assumed coverage on Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They set an “equal weight” rating and a $55.00 target price on the stock. Finally, StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.33.

Amphastar Pharmaceuticals Price Performance

The business’s 50-day moving average price is $37.86 and its 200 day moving average price is $43.64. The company has a market capitalization of $1.55 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. 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 related news, EVP Rong Zhou sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $44.42, for a total value of $310,940.00. Following the transaction, the executive vice president now directly owns 118,469 shares in the company, valued at approximately $5,262,392.98. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $43.77, for a total transaction of $437,700.00. Following the sale, the director now owns 30,471 shares of the company’s stock, valued at approximately $1,333,715.67. The trade was a 24.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in shares of Amphastar Pharmaceuticals during the 2nd quarter worth $388,000. GAMMA Investing LLC raised its position in Amphastar Pharmaceuticals by 70.0% during the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $32,000 after purchasing an additional 273 shares in the last quarter. nVerses Capital LLC lifted its stake in Amphastar Pharmaceuticals by 18.2% during the third quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $126,000 after purchasing an additional 400 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Amphastar Pharmaceuticals by 1.7% in the 3rd quarter. Raymond James & Associates now owns 116,677 shares of the company’s stock worth $5,662,000 after purchasing an additional 1,958 shares in the last quarter. Finally, Retirement Guys Formula LLC bought a new position in shares of Amphastar Pharmaceuticals during the 3rd quarter valued at about $203,000. Institutional investors own 65.09% of the company’s stock.

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.