Wells Fargo & Company Begins Coverage on Amphastar Pharmaceuticals (NASDAQ:AMPH)

Wells Fargo & Company assumed coverage on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a research report report published on Friday morning, Marketbeat reports. The firm issued an equal weight rating and a $55.00 price objective on the stock.

A number of other analysts have also recently weighed in on the company. Piper Sandler lowered their price objective on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Thursday, August 8th. Finally, StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Amphastar Pharmaceuticals has a consensus rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Trading Up 2.0 %

NASDAQ AMPH opened at $45.46 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82. The stock has a market cap of $2.19 billion, a PE ratio of 15.15, a PEG ratio of 0.87 and a beta of 0.82. The company’s 50-day moving average price is $48.31 and its 200-day moving average price is $44.42. Amphastar Pharmaceuticals has a 12 month low of $36.56 and a 12 month high of $65.92.

Insider Activity at Amphastar Pharmaceuticals

In related news, CFO William J. Peters sold 7,426 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total value of $386,523.30. Following the completion of the sale, the chief financial officer now directly owns 94,103 shares of the company’s stock, valued at $4,898,061.15. This represents a 7.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction of $336,929.84. Following the completion of the transaction, the executive vice president now owns 118,388 shares in the company, valued at approximately $5,786,805.44. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,533 shares of company stock worth $1,571,652. Corporate insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Amphastar Pharmaceuticals by 70.0% in the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $32,000 after acquiring an additional 273 shares during the last quarter. Innealta Capital LLC acquired a new stake in Amphastar Pharmaceuticals during the 2nd quarter worth approximately $55,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Amphastar Pharmaceuticals by 53.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock valued at $56,000 after purchasing an additional 398 shares in the last quarter. Blue Trust Inc. boosted its holdings in Amphastar Pharmaceuticals by 23.9% in the 2nd quarter. Blue Trust Inc. now owns 1,604 shares of the company’s stock worth $70,000 after acquiring an additional 309 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in Amphastar Pharmaceuticals in the 3rd quarter valued at about $78,000. 65.09% of the stock is owned by hedge funds and other institutional investors.

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.