Amphastar Pharmaceuticals (NASDAQ:AMPH) Reaches New 52-Week Low – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $34.01 and last traded at $33.33, with a volume of 1041 shares traded. The stock had previously closed at $34.87.

Wall Street Analysts Forecast Growth

AMPH has been the topic of a number of recent research reports. StockNews.com lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company assumed coverage on Amphastar Pharmaceuticals in a report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Trading Down 4.7 %

The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82. The company has a fifty day moving average of $39.34 and a two-hundred day moving average of $43.97. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.07 and a beta of 0.81.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, EVP Yakob Liawatidewi sold 5,214 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total value of $271,388.70. Following the completion of the transaction, the executive vice president now owns 74,938 shares in the company, valued at approximately $3,900,522.90. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard K. Prins sold 5,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.80, for a total value of $244,000.00. Following the completion of the transaction, the director now owns 31,471 shares of the company’s stock, valued at $1,535,784.80. The trade was a 13.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,533 shares of company stock valued at $1,987,482 over the last three months. 27.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Amphastar Pharmaceuticals by 10.9% in the third quarter. Victory Capital Management Inc. now owns 218,531 shares of the company’s stock valued at $10,605,000 after buying an additional 21,530 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at about $11,070,000. Wellington Management Group LLP acquired a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at about $957,000. XTX Topco Ltd acquired a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at about $674,000. Finally, Pacer Advisors Inc. lifted its stake in shares of 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. 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.