Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 52-Week Low – Should You Sell?

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) hit a new 52-week low during trading on Tuesday . The stock traded as low as $30.86 and last traded at $30.73, with a volume of 240749 shares. The stock had previously closed at $31.02.

Analyst Ratings Changes

Several brokerages recently commented on AMPH. StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Piper Sandler cut Amphastar Pharmaceuticals from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $66.00 to $36.00 in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a research report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 target price for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.33.

Amphastar Pharmaceuticals Stock Performance

The company has a market capitalization of $1.50 billion, a P/E ratio of 10.43, a PEG ratio of 2.01 and a beta of 0.81. The stock has a fifty day simple moving average of $35.84 and a 200-day simple moving average of $43.00. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling at Amphastar Pharmaceuticals

In other news, EVP Rong Zhou sold 7,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total value of $310,940.00. Following the completion of the sale, the executive vice president now directly owns 118,469 shares in the company, valued at approximately $5,262,392.98. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were 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 approximately $1,333,715.67. This trade represents a 24.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 27.10% of the company’s stock.

Institutional Trading of Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its stake in shares of Amphastar Pharmaceuticals by 222.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $26,000 after buying an additional 493 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Amphastar Pharmaceuticals by 806.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock valued at $36,000 after buying an additional 871 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Amphastar Pharmaceuticals in the fourth quarter valued at $38,000. Tower Research Capital LLC TRC increased its stake in shares of Amphastar Pharmaceuticals by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company’s stock valued at $43,000 after buying an additional 348 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Amphastar Pharmaceuticals by 36.9% in the fourth quarter. Huntington National Bank now owns 1,340 shares of the company’s stock valued at $50,000 after buying an additional 361 shares in the last quarter. 65.09% of the stock is currently owned by institutional investors and hedge funds.

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.