Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 12-Month Low – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) hit a new 52-week low during trading on Monday . The company traded as low as $24.94 and last traded at $25.06, with a volume of 47436 shares. The stock had previously closed at $26.61.

Analysts Set New Price Targets

Separately, Piper Sandler cut their price objective on shares of Amphastar Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, March 21st.

Amphastar Pharmaceuticals Trading Down 6.6 %

The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79. The business has a 50 day simple moving average of $30.24 and a 200-day simple moving average of $39.18.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 4,231 shares of Amphastar Pharmaceuticals stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $27.54, for a total value of $116,521.74. Following the transaction, the chief financial officer now owns 97,363 shares in the company, valued at $2,681,377.02. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd lifted its stake in shares of Amphastar Pharmaceuticals by 85.9% in the 3rd quarter. Point72 DIFC Ltd now owns 3,954 shares of the company’s stock valued at $192,000 after purchasing an additional 1,827 shares in the last quarter. Wellington Management Group LLP acquired a new position in Amphastar Pharmaceuticals during the third quarter valued at approximately $957,000. XTX Topco Ltd purchased a new stake in Amphastar Pharmaceuticals during the third quarter worth approximately $674,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the third quarter worth $239,000. Finally, Barclays PLC raised its stake in shares of Amphastar Pharmaceuticals by 53.3% in the 3rd quarter. Barclays PLC now owns 74,456 shares of the company’s stock valued at $3,613,000 after acquiring an additional 25,878 shares during the period. 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.