Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Gap Down - Time to Sell?

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $53.40, but opened at $47.94. Amphastar Pharmaceuticals shares last traded at $48.65, with a volume of 156,806 shares trading hands.

Analysts Set New Price Targets

Several research firms have weighed in on AMPH. StockNews.com cut Amphastar Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a "hold" rating on shares of Amphastar Pharmaceuticals in a research report on Thursday, August 8th. Finally, Piper Sandler dropped their target price on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.00.

Amphastar Pharmaceuticals Stock Down 10.2 %

The company has a current ratio of 3.52, a quick ratio of 2.63 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.33 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. The stock has a fifty day simple moving average of $48.50 and a two-hundred day simple moving average of $44.12.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.75 by $0.10. The firm had revenue of $182.39 million for the quarter, compared to the consensus estimate of $171.29 million. Amphastar Pharmaceuticals had a net margin of 23.36% and a return on equity of 29.79%. As a group, sell-side analysts expect that Amphastar Pharmaceuticals, Inc. will post 3.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Floyd F. Petersen sold 3,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $46.47, for a total value of $139,410.00. Following the completion of the transaction, the director now directly owns 75,409 shares in the company, valued at $3,504,256.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard K. Prins sold 17,101 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, August 12th. The shares were sold at an average price of $43.07, for a total transaction of $736,540.07. Following the transaction, the director now owns 33,971 shares in the company, valued at $1,463,130.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Floyd F. Petersen sold 3,000 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $46.47, for a total transaction of $139,410.00. Following the sale, the director now directly owns 75,409 shares of the company's stock, valued at approximately $3,504,256.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,101 shares of company stock valued at $1,069,350 over the last ninety days. 27.10% of the stock is owned by insiders.

Institutional Trading of Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. TD Asset Management Inc lifted its position in shares of Amphastar Pharmaceuticals by 67.4% in the second quarter. TD Asset Management Inc now owns 1,691,569 shares of the company's stock valued at $67,663,000 after acquiring an additional 680,976 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Amphastar Pharmaceuticals by 35.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company's stock worth $43,154,000 after buying an additional 280,390 shares during the last quarter. American Century Companies Inc. raised its position in Amphastar Pharmaceuticals by 19.7% during the second quarter. American Century Companies Inc. now owns 740,408 shares of the company's stock valued at $29,616,000 after purchasing an additional 121,764 shares during the period. Millennium Management LLC increased its position in Amphastar Pharmaceuticals by 84.6% during the second quarter. Millennium Management LLC now owns 738,748 shares of the company's stock valued at $29,550,000 after acquiring an additional 338,653 shares during the last quarter. Finally, Boston Trust Walden Corp bought a new position in Amphastar Pharmaceuticals during the 3rd quarter valued at about $26,189,000. 65.09% of the stock is owned by hedge funds and other institutional investors.

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.

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