StockNews.com Lowers Amphastar Pharmaceuticals (NASDAQ:AMPH) to Hold

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

Several other brokerages have also issued reports on AMPH. Needham & Company LLC reiterated a "hold" rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 8th. Piper Sandler reduced their target price on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $63.00.

Amphastar Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ:AMPH traded down $0.03 during midday trading on Thursday, reaching $46.29. 295,129 shares of the company were exchanged, compared to its average volume of 401,558. Amphastar Pharmaceuticals has a fifty-two week low of $36.56 and a fifty-two week high of $65.92. The company has a quick ratio of 2.63, a current ratio of 3.52 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $46.26 and a two-hundred day simple moving average of $42.93. The firm has a market cap of $2.26 billion, a PE ratio of 16.02, a P/E/G ratio of 0.92 and a beta of 0.83.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.10. Amphastar Pharmaceuticals had a net margin of 23.36% and a return on equity of 29.79%. The firm had revenue of $182.39 million for the quarter, compared to analyst estimates of $171.29 million. As a group, sell-side analysts forecast that Amphastar Pharmaceuticals will post 3.71 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Rong Zhou sold 4,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $48.35, for a total transaction of $193,400.00. Following the completion of the transaction, the executive vice president now directly owns 118,388 shares in the company, valued at $5,724,059.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Rong Zhou sold 4,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $48.35, for a total transaction of $193,400.00. Following the completion of the transaction, the executive vice president now directly owns 118,388 shares in the company, valued at $5,724,059.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Floyd F. Petersen sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the transaction, the director now owns 75,409 shares of the company's stock, valued at approximately $3,504,256.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,383 shares of company stock worth $1,524,123 in the last three months. 27.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Amphastar Pharmaceuticals by 70.0% during the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company's stock worth $32,000 after purchasing an additional 273 shares during the last quarter. SG Americas Securities LLC bought a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $1,710,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Amphastar Pharmaceuticals during the 2nd quarter worth $364,000. Cim LLC raised its position in Amphastar Pharmaceuticals by 7.5% during the 2nd quarter. Cim LLC now owns 10,016 shares of the company's stock worth $401,000 after purchasing an additional 701 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Amphastar Pharmaceuticals during the 2nd quarter worth $388,000. 65.09% of the stock is currently 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.

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