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

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shares 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.

Analyst Ratings Changes

Several research firms recently commented on AMPH. StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They set an “equal weight” rating and a $55.00 price objective for the company. Finally, Piper Sandler downgraded Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $66.00 to $36.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.33.

Amphastar Pharmaceuticals Trading Down 0.9 %

The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.07 and a beta of 0.81. 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 has a fifty day moving average of $38.64 and a two-hundred day moving average of $43.81.

Insider Buying and Selling

In other news, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, December 9th. The stock was sold at an average price of $43.77, for a total value of $437,700.00. Following the completion of the sale, the director now owns 30,471 shares of the company’s stock, valued at $1,333,715.67. The trade was a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rong Zhou sold 6,893 shares of Amphastar Pharmaceuticals stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $336,929.84. Following the completion of the sale, the executive vice president now directly owns 118,388 shares of the company’s stock, valued at approximately $5,786,805.44. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,893 shares of company stock worth $1,329,570 in the last quarter. Company insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Amphastar Pharmaceuticals by 70.0% during the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $32,000 after acquiring an additional 273 shares during the period. Smartleaf Asset Management LLC grew its position in Amphastar Pharmaceuticals by 222.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $26,000 after acquiring an additional 493 shares during the period. Parkside Financial Bank & Trust grew its position in Amphastar Pharmaceuticals by 806.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock valued at $36,000 after acquiring an additional 871 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in Amphastar Pharmaceuticals by 53.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock valued at $56,000 after acquiring an additional 398 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new stake in Amphastar Pharmaceuticals during the third quarter valued at about $78,000. Hedge funds and other institutional investors own 65.09% of the company’s stock.

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.