Piper Sandler Cuts Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target to $32.00

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) had its price target reduced by Piper Sandler from $36.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 12.72% from the company's current price.

Separately, Wells Fargo & Company initiated coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They set an "equal weight" rating and a $55.00 target price for the company.

Amphastar Pharmaceuticals Stock Performance

NASDAQ:AMPH traded down $0.07 during midday trading on Friday, reaching $28.39. The stock had a trading volume of 713,226 shares, compared to its average volume of 427,720. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.35 billion, a P/E ratio of 9.46, a P/E/G ratio of 2.19 and a beta of 0.77. The firm has a fifty day simple moving average of $31.72 and a two-hundred day simple moving average of $40.36. Amphastar Pharmaceuticals has a 12-month low of $25.89 and a 12-month high of $53.96.

Insider Activity

In related news, CFO William J. Peters sold 4,231 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $27.54, for a total value of $116,521.74. Following the sale, the chief financial officer now owns 97,363 shares in the company, valued at $2,681,377.02. This represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 27.10% of the company's stock.

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Hedge Funds Weigh In On Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in shares of Amphastar Pharmaceuticals by 222.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company's stock valued at $26,000 after buying an additional 493 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Amphastar Pharmaceuticals by 806.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 979 shares of the company's stock valued at $36,000 after acquiring an additional 871 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Amphastar Pharmaceuticals during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC raised its position in Amphastar Pharmaceuticals by 43.7% during 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 lifted its holdings 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 valued at $50,000 after purchasing an additional 361 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals Company Profile

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.