Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 52-Week Low – Should You Sell?

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) reached a new 52-week low during trading on Tuesday . The company traded as low as $30.86 and last traded at $30.73, with a volume of 240749 shares changing hands. The stock had previously closed at $31.02.

Analysts Set New Price Targets

A number of research firms have commented on AMPH. Wells Fargo & Company began coverage on shares of Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They set an “equal weight” rating and a $55.00 price objective for the company. StockNews.com lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Piper Sandler lowered shares of Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $36.00 in a research report on Tuesday, February 4th. Four equities 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, the stock currently has an average rating of “Hold” and an average target price of $50.33.

Amphastar Pharmaceuticals Stock Up 0.3 %

The business has a fifty day moving average of $35.84 and a 200 day moving average of $43.00. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 10.43, a P/E/G ratio of 2.01 and a beta of 0.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.43 and a quick ratio of 2.61.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, EVP Rong Zhou sold 7,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total transaction of $310,940.00. Following the transaction, the executive vice president now owns 118,469 shares in the company, valued at $5,262,392.98. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard K. Prins sold 10,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $43.77, for a total value of $437,700.00. Following the transaction, the director now owns 30,471 shares in the company, valued at approximately $1,333,715.67. This trade represents a 24.71 % decrease in their position. The disclosure for this sale can be found here. 27.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPH. Smartleaf Asset Management LLC grew its holdings in Amphastar Pharmaceuticals by 222.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $26,000 after purchasing an additional 493 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Amphastar Pharmaceuticals by 806.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock worth $36,000 after acquiring an additional 871 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Amphastar Pharmaceuticals in the fourth quarter worth $38,000. Tower Research Capital LLC TRC grew its stake in shares of Amphastar Pharmaceuticals by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company’s stock worth $43,000 after acquiring an additional 348 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of Amphastar Pharmaceuticals by 36.9% in the fourth quarter. Huntington National Bank now owns 1,340 shares of the company’s stock worth $50,000 after acquiring an additional 361 shares during the last quarter. Institutional investors and hedge funds 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.