Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target Cut to $32.00 by Analysts at Piper Sandler

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price target dropped by Piper Sandler from $36.00 to $32.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 14.43% from the stock’s previous close.

Separately, Wells Fargo & Company began coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They set an “equal weight” rating and a $55.00 target price for the company.

Amphastar Pharmaceuticals Trading Up 0.2 %

Shares of NASDAQ AMPH traded up $0.06 during trading on Friday, reaching $27.97. The stock had a trading volume of 133,419 shares, compared to its average volume of 420,798. Amphastar Pharmaceuticals has a fifty-two week low of $25.89 and a fifty-two week high of $53.96. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43. The business’s 50-day moving average price is $32.07 and its 200-day moving average price is $40.71. The company has a market cap of $1.33 billion, a P/E ratio of 9.31, a PEG ratio of 2.19 and a beta of 0.77.

Insiders Place Their Bets

In other news, CFO William J. Peters sold 4,231 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $27.54, for a total value of $116,521.74. Following the completion of the sale, the chief financial officer now directly owns 97,363 shares of the company’s stock, valued at approximately $2,681,377.02. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 27.10% of the stock is owned by company insiders.

Institutional Trading of Amphastar Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMPH. Pacer Advisors Inc. lifted its stake in Amphastar Pharmaceuticals by 51,977.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,350,368 shares of the company’s stock valued at $50,139,000 after buying an additional 1,347,775 shares in the last quarter. Wellington Management Group LLP acquired a new position in Amphastar Pharmaceuticals in the third quarter worth about $957,000. XTX Topco Ltd bought a new position in Amphastar Pharmaceuticals in the third quarter worth about $674,000. Geode Capital Management LLC lifted its holdings in Amphastar Pharmaceuticals by 1.5% in the third quarter. Geode Capital Management LLC now owns 920,363 shares of the company’s stock worth $44,674,000 after acquiring an additional 14,015 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Amphastar Pharmaceuticals by 145.3% in the third quarter. Glenmede Trust Co. NA now owns 37,884 shares of the company’s stock worth $1,839,000 after acquiring an additional 22,439 shares during the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

About Amphastar Pharmaceuticals

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.