Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Sees Large Growth in Short Interest

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 4,820,000 shares, a growth of 10.3% from the December 31st total of 4,370,000 shares. Approximately 13.5% of the company's shares are sold short. Based on an average trading volume of 476,100 shares, the short-interest ratio is currently 10.1 days.

Analysts Set New Price Targets

AMPH has been the subject of a number of recent research reports. Piper Sandler lowered shares of Amphastar Pharmaceuticals from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $66.00 to $36.00 in a research note on Tuesday. StockNews.com lowered Amphastar Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company began coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They set an "equal weight" rating and a $55.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.33.

Insider Buying and Selling at Amphastar Pharmaceuticals

In related news, Director Richard K. Prins sold 5,000 shares of Amphastar Pharmaceuticals stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.80, for a total value of $244,000.00. Following the completion of the sale, the director now owns 31,471 shares of the company's stock, valued at approximately $1,535,784.80. The trade was a 13.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rong Zhou sold 7,000 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $44.42, for a total transaction of $310,940.00. Following the completion of the transaction, the executive vice president now owns 118,469 shares in the company, valued at approximately $5,262,392.98. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,893 shares of company stock worth $1,329,570. Insiders own 27.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Illumine Investment Management LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the fourth quarter valued at about $633,000. Parkside Financial Bank & Trust grew its position in shares of Amphastar Pharmaceuticals by 806.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 979 shares of the company's stock worth $36,000 after purchasing an additional 871 shares in the last quarter. D.A. Davidson & CO. bought a new position in Amphastar Pharmaceuticals in the 4th quarter valued at approximately $417,000. Principal Financial Group Inc. increased its position in shares of Amphastar Pharmaceuticals by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 207,978 shares of the company's stock worth $7,722,000 after buying an additional 5,961 shares during the period. Finally, Rhumbline Advisers grew its holdings in Amphastar Pharmaceuticals by 1.4% in the fourth quarter. Rhumbline Advisers now owns 87,327 shares of the company's stock worth $3,242,000 after purchasing an additional 1,213 shares during the period. 65.09% of the stock is owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Stock Down 1.4 %

NASDAQ AMPH traded down $0.47 during trading hours on Wednesday, hitting $32.73. 216,819 shares of the company were exchanged, compared to its average volume of 552,846. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.07 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. Amphastar Pharmaceuticals has a 52-week low of $32.25 and a 52-week high of $56.45. The company has a 50 day moving average of $38.89 and a two-hundred day moving average of $43.88.

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.