Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Down 8.8% – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) was down 8.8% during mid-day trading on Monday . The stock traded as low as $20.15 and last traded at $19.8550. 100,318 shares changed hands during trading, a decline of 82% from the average daily volume of 548,144 shares. The stock had previously closed at $21.78.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMPH. Zacks Research cut Amphastar Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Weiss Ratings lowered Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Thursday, May 14th. Bank of America reaffirmed an “underperform” rating and set a $20.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Tuesday, April 21st. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Amphastar Pharmaceuticals presently has a consensus rating of “Reduce” and a consensus price target of $22.00.

Amphastar Pharmaceuticals Trading Down 2.6%

The firm has a market cap of $889.74 million, a price-to-earnings ratio of 12.16, a PEG ratio of 4.07 and a beta of 0.91. The business has a fifty day moving average of $19.81 and a two-hundred day moving average of $22.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.28). The firm had revenue of $171.17 million for the quarter, compared to analyst estimates of $173.46 million. Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%. As a group, equities analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in AMPH. FNY Investment Advisers LLC acquired a new position in Amphastar Pharmaceuticals during the third quarter worth about $26,000. Quarry LP acquired a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at approximately $32,000. Farther Finance Advisors LLC increased its stake in shares of Amphastar Pharmaceuticals by 46.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock worth $37,000 after purchasing an additional 437 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Amphastar Pharmaceuticals by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock worth $45,000 after purchasing an additional 462 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Amphastar Pharmaceuticals by 24.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock worth $60,000 after purchasing an additional 435 shares during the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.