Amphastar Pharmaceuticals (NASDAQ:AMPH) Reaches New 12-Month Low - What's Next?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $32.08 and last traded at $31.96, with a volume of 18089 shares trading hands. The stock had previously closed at $32.37.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMPH. Piper Sandler downgraded shares of Amphastar Pharmaceuticals from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $66.00 to $36.00 in a report on Tuesday, February 4th. StockNews.com downgraded Amphastar Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company assumed coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They set an "equal weight" rating and a $55.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $50.33.

Amphastar Pharmaceuticals Price Performance

The business has a 50-day simple moving average of $37.36 and a 200 day simple moving average of $43.49. The stock has a market cap of $1.53 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.07 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 Transactions at Amphastar Pharmaceuticals

In other news, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $43.77, for a total value of $437,700.00. Following the completion of the transaction, the director now directly owns 30,471 shares of the company's stock, valued at approximately $1,333,715.67. This trade represents a 24.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rong Zhou sold 7,000 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $44.42, for a total value of $310,940.00. Following the sale, the executive vice president now owns 118,469 shares in the company, valued at approximately $5,262,392.98. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 27.10% of the company's stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Amphastar Pharmaceuticals by 10.9% during the 3rd quarter. Victory Capital Management Inc. now owns 218,531 shares of the company's stock valued at $10,605,000 after purchasing an additional 21,530 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter worth approximately $11,070,000. Pacer Advisors Inc. lifted its holdings in shares of Amphastar Pharmaceuticals by 51,977.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,350,368 shares of the company's stock valued at $50,139,000 after purchasing an additional 1,347,775 shares in the last quarter. Wellington Management Group LLP bought a new stake in Amphastar Pharmaceuticals during the third quarter worth $957,000. Finally, XTX Topco Ltd bought a new position in Amphastar Pharmaceuticals during the 3rd quarter valued at $674,000. Institutional investors and hedge funds own 65.09% of the company's stock.

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.