Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Down 5.4% - What's Next?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) shares dropped 5.4% during trading on Friday . The company traded as low as $41.86 and last traded at $42.08. Approximately 514,340 shares traded hands during trading, an increase of 28% from the average daily volume of 400,341 shares. The stock had previously closed at $44.50.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com lowered Amphastar Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, November 1st. 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 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $60.33.

Amphastar Pharmaceuticals Trading Down 5.1 %

The company has a market cap of $2.03 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.87 and a beta of 0.78. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average of $47.14 and a two-hundred day moving average of $44.63.

Insider Transactions at Amphastar Pharmaceuticals

In other news, Director Richard K. Prins sold 5,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.80, for a total transaction of $244,000.00. Following the sale, the director now directly owns 31,471 shares in the company, valued at $1,535,784.80. This represents a 13.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO William J. Peters sold 7,426 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total transaction of $386,523.30. Following the completion of the sale, the chief financial officer now directly owns 94,103 shares in the company, valued at approximately $4,898,061.15. The trade was a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,533 shares of company stock worth $1,676,542 over the last quarter. Corporate insiders own 27.10% of the company's stock.

Institutional Trading of Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. TD Asset Management Inc raised its holdings in shares of Amphastar Pharmaceuticals by 67.4% in the 2nd 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. Boston Trust Walden Corp purchased a new stake in Amphastar Pharmaceuticals in the third quarter valued at approximately $26,189,000. Millennium Management LLC lifted 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 purchasing an additional 338,653 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in Amphastar Pharmaceuticals by 35.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company's stock valued at $43,154,000 after purchasing an additional 280,390 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Amphastar Pharmaceuticals in the 2nd quarter worth approximately $9,085,000. 65.09% of the stock is currently 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.