Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Down 3.1% - Should You Sell?

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) dropped 3.1% during trading on Wednesday . The company traded as low as $27.40 and last traded at $27.40. Approximately 329,343 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 440,785 shares. The stock had previously closed at $28.29.

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price target on Amphastar Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Friday, March 21st.

Amphastar Pharmaceuticals Stock Down 6.1 %

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 firm's 50 day simple moving average is $30.24 and its 200 day simple moving average is $39.18. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79.

Insider Activity at Amphastar Pharmaceuticals

In related news, CFO William J. Peters sold 4,231 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $27.54, for a total transaction of $116,521.74. Following the transaction, the chief financial officer now owns 97,363 shares in the company, valued at $2,681,377.02. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 27.10% of the stock is currently owned by insiders.

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Institutional Trading of Amphastar Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Amphastar Pharmaceuticals by 222.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company's stock worth $26,000 after acquiring an additional 493 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Amphastar Pharmaceuticals by 806.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 979 shares of the company's stock valued at $36,000 after purchasing an additional 871 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Amphastar Pharmaceuticals in the fourth quarter worth approximately $38,000. Tower Research Capital LLC TRC raised its stake in Amphastar Pharmaceuticals by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company's stock valued at $43,000 after purchasing an additional 348 shares during the period. Finally, Huntington National Bank raised its position in Amphastar Pharmaceuticals by 36.9% during the fourth quarter. Huntington National Bank now owns 1,340 shares of the company's stock valued at $50,000 after buying an additional 361 shares during the period. 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.