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Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock Rating Lowered by Piper Sandler

Amphastar Pharmaceuticals logo with Medical background

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) was downgraded by equities researchers at Piper Sandler from an "overweight" rating to a "neutral" rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $36.00 price target on the stock, down from their previous price target of $66.00. Piper Sandler's target price indicates a potential upside of 11.21% from the stock's previous close.

A number of other research analysts have also weighed in on the stock. StockNews.com lowered shares of Amphastar Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an "equal weight" rating and a $55.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $50.33.

Check Out Our Latest Research Report on AMPH

Amphastar Pharmaceuticals Price Performance

NASDAQ:AMPH traded down $0.42 during trading hours on Tuesday, reaching $32.37. 311,540 shares of the company were exchanged, compared to its average volume of 541,086. The stock's 50-day moving average is $38.39 and its 200-day moving average is $43.73. Amphastar Pharmaceuticals has a twelve month low of $32.16 and a twelve month high of $56.45. The firm has a market cap of $1.56 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 10,000 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $43.77, for a total transaction of $437,700.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Rong Zhou sold 7,000 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total value of $310,940.00. Following the completion of the sale, the executive vice president now directly owns 118,469 shares of the company's stock, valued at $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. Over the last three months, insiders have sold 28,893 shares of company stock worth $1,329,570. 27.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AMPH. Smartleaf Asset Management LLC raised its stake in Amphastar Pharmaceuticals by 222.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company's stock worth $26,000 after purchasing an additional 493 shares during the period. GAMMA Investing LLC increased its holdings in shares of Amphastar Pharmaceuticals by 70.0% during the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company's stock worth $32,000 after buying an additional 273 shares during the last quarter. Parkside Financial Bank & Trust raised 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 valued at $36,000 after buying an additional 871 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Amphastar Pharmaceuticals by 53.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company's stock valued at $56,000 after acquiring an additional 398 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new position in Amphastar Pharmaceuticals in the third quarter worth approximately $78,000. Institutional investors and hedge funds own 65.09% of the company's stock.

Amphastar Pharmaceuticals Company Profile

(Get Free Report)

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.

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