Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 12-Month Low – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s share price reached a new 52-week low on Wednesday . The company traded as low as $26.88 and last traded at $27.34, with a volume of 34005 shares traded. The stock had previously closed at $27.33.

Analyst Ratings Changes

A number of analysts have weighed in on the company. 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 price objective for the company. Piper Sandler cut Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $36.00 in a research report on Tuesday, February 4th.

Amphastar Pharmaceuticals Stock Down 0.2 %

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 firm has a fifty day moving average price of $32.93 and a 200 day moving average price of $41.44. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 2.19 and a beta of 0.77.

Insider Activity

In other news, CFO William J. Peters sold 4,231 shares of the firm’s stock in a transaction that occurred on 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 $2,681,377.02. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.10% of the company’s stock.

Institutional Trading of Amphastar Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in Amphastar Pharmaceuticals by 10.9% in the 3rd quarter. Victory Capital Management Inc. now owns 218,531 shares of the company’s stock valued at $10,605,000 after purchasing an additional 21,530 shares in the last quarter. Pacer Advisors Inc. increased 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 purchasing an additional 1,347,775 shares in the last quarter. Wellington Management Group LLP purchased a new position in Amphastar Pharmaceuticals in the 3rd quarter valued at approximately $957,000. XTX Topco Ltd purchased a new position in Amphastar Pharmaceuticals in the 3rd quarter valued at approximately $674,000. Finally, Geode Capital Management LLC increased its stake in Amphastar Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 920,363 shares of the company’s stock valued at $44,674,000 after purchasing an additional 14,015 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

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.