Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Gap Down – Here’s What Happened

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) gapped down before the market opened on Tuesday . The stock had previously closed at $33.39, but opened at $32.42. Amphastar Pharmaceuticals shares last traded at $33.20, with a volume of 79,754 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMPH. Piper Sandler cut shares of Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $36.00 in a research note on Tuesday. Wells Fargo & Company assumed coverage on Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They set an “equal weight” rating and a $55.00 target price on the stock. Finally, StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $50.33.

Amphastar Pharmaceuticals Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.82, a current ratio of 3.43 and a quick ratio of 2.61. The company has a 50-day moving average price of $39.11 and a 200 day moving average price of $43.93. The firm has a market capitalization of $1.61 billion, a PE ratio of 11.16, a P/E/G ratio of 1.07 and a beta of 0.81.

Insider Buying and Selling

In related news, CFO William J. Peters sold 7,426 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total value of $386,523.30. Following the transaction, the chief financial officer now directly owns 94,103 shares of the company’s stock, valued at approximately $4,898,061.15. The trade was a 7.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rong Zhou sold 7,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total value of $310,940.00. Following the completion of the sale, the executive vice president now directly 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. In the last three months, insiders have sold 41,533 shares of company stock valued at $1,987,482. Corporate insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. purchased a new position in Amphastar Pharmaceuticals in the fourth quarter worth about $417,000. Principal Financial Group Inc. lifted its holdings in shares of Amphastar Pharmaceuticals by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 207,978 shares of the company’s stock worth $7,722,000 after acquiring an additional 5,961 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Amphastar Pharmaceuticals by 1.4% during the 4th quarter. Rhumbline Advisers now owns 87,327 shares of the company’s stock worth $3,242,000 after purchasing an additional 1,213 shares during the period. Polaris Capital Management LLC purchased a new stake in Amphastar Pharmaceuticals in the 4th quarter worth about $910,000. Finally, Yorktown Management & Research Co Inc bought a new stake in Amphastar Pharmaceuticals in the fourth quarter worth about $245,000. 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.