Amphastar Pharmaceuticals (NASDAQ:AMPH) Reaches New 52-Week Low – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $36.49 and last traded at $36.68, with a volume of 157824 shares traded. The stock had previously closed at $36.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMPH shares. StockNews.com cut shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company assumed coverage on shares of Amphastar Pharmaceuticals in a report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price objective for the company. 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 MarketBeat, Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $60.33.

Amphastar Pharmaceuticals Stock Performance

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 has a market capitalization of $1.76 billion, a PE ratio of 12.22, a P/E/G ratio of 0.87 and a beta of 0.78. The firm’s 50-day moving average price is $45.02 and its two-hundred day moving average price is $44.45.

Insider Transactions at Amphastar Pharmaceuticals

In other news, EVP Rong Zhou sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $44.42, for a total transaction of $310,940.00. Following the completion of the transaction, the executive vice president now owns 118,469 shares of the company’s stock, valued at approximately $5,262,392.98. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $43.77, for a total value of $437,700.00. Following the sale, the director now directly owns 30,471 shares in the company, valued at approximately $1,333,715.67. This trade represents a 24.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,533 shares of company stock valued at $1,987,482. 27.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Amphastar Pharmaceuticals by 70.0% in the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $32,000 after buying an additional 273 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Amphastar Pharmaceuticals by 53.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock worth $56,000 after acquiring an additional 398 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Amphastar Pharmaceuticals during the third quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Amphastar Pharmaceuticals by 20.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,761 shares of the company’s stock valued at $85,000 after purchasing an additional 301 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of Amphastar Pharmaceuticals by 37.5% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $88,000 after purchasing an additional 600 shares in the last quarter. 65.09% of the stock is currently owned by 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.