JPMorgan Chase & Co. Reiterates “Neutral” Rating for Amphastar Pharmaceuticals (NASDAQ:AMPH)

Amphastar Pharmaceuticals (NASDAQ:AMPH)‘s stock had its “neutral” rating reaffirmed by JPMorgan Chase & Co. in a report released on Monday,Benzinga reports. They currently have a $30.00 target price on the stock, down from their prior target price of $45.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 24.43% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, April 10th. Wells Fargo & Company reduced their price objective on Amphastar Pharmaceuticals from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Piper Sandler reduced their price objective on Amphastar Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.33.

Amphastar Pharmaceuticals Price Performance

Shares of NASDAQ AMPH opened at $24.11 on Monday. 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 company has a market cap of $1.15 billion, a PE ratio of 8.04, a P/E/G ratio of 2.19 and a beta of 0.78. The business has a 50-day simple moving average of $25.83 and a two-hundred day simple moving average of $34.66. Amphastar Pharmaceuticals has a fifty-two week low of $22.64 and a fifty-two week high of $53.96.

Insider Buying and Selling

In related news, CFO William J. Peters sold 4,231 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $27.54, for a total transaction of $116,521.74. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 5,231 shares of company stock valued at $142,752 over the last ninety days. Company insiders own 27.50% of the company’s stock.

Institutional Trading of Amphastar Pharmaceuticals

Several institutional investors have recently bought and sold shares of AMPH. Pacer Advisors Inc. grew its holdings in Amphastar Pharmaceuticals by 51,977.4% in the fourth 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 during the period. Boston Trust Walden Corp lifted its position in shares of Amphastar Pharmaceuticals by 81.4% in the fourth quarter. Boston Trust Walden Corp now owns 978,920 shares of the company’s stock valued at $36,347,000 after acquiring an additional 439,281 shares in the last quarter. Boston Partners purchased a new position in shares of Amphastar Pharmaceuticals in the fourth quarter valued at approximately $15,778,000. TD Asset Management Inc lifted its position in shares of Amphastar Pharmaceuticals by 20.2% in the first quarter. TD Asset Management Inc now owns 2,212,142 shares of the company’s stock valued at $64,130,000 after acquiring an additional 371,856 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in shares of Amphastar Pharmaceuticals in the fourth quarter valued at approximately $9,268,000. 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.