Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading 4.6% Higher – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price rose 4.6% during trading on Wednesday . The stock traded as high as $36.92 and last traded at $36.87. Approximately 616,112 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 651,146 shares. The stock had previously closed at $35.25.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMPH. Wells Fargo & Company initiated coverage on Amphastar Pharmaceuticals in a report on Friday, November 22nd. They set an “equal weight” rating and a $55.00 price objective on the stock. StockNews.com cut shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Trading Down 0.7 %

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 firm has a 50-day moving average price of $42.75 and a 200-day moving average price of $44.18. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.87 and a beta of 0.82.

Insiders Place Their Bets

In related news, CFO William J. Peters sold 7,426 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total value of $386,523.30. Following the transaction, the chief financial officer now owns 94,103 shares in the company, valued at approximately $4,898,061.15. This represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $48.80, for a total transaction of $244,000.00. Following the transaction, the director now directly owns 31,471 shares in the company, valued at approximately $1,535,784.80. The trade was a 13.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,533 shares of company stock worth $1,987,482. 27.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMPH. Epoch Investment Partners Inc. boosted its holdings in Amphastar Pharmaceuticals by 35.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company’s stock valued at $43,154,000 after acquiring an additional 280,390 shares during the period. Geode Capital Management LLC increased its holdings in Amphastar Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 920,363 shares of the company’s stock valued at $44,674,000 after buying an additional 14,015 shares during the period. American Century Companies Inc. raised its position in Amphastar Pharmaceuticals by 19.7% in the second quarter. American Century Companies Inc. now owns 740,408 shares of the company’s stock worth $29,616,000 after purchasing an additional 121,764 shares in the last quarter. Millennium Management LLC lifted its position in shares of Amphastar Pharmaceuticals by 84.6% during the 2nd quarter. Millennium Management LLC now owns 738,748 shares of the company’s stock worth $29,550,000 after buying an additional 338,653 shares during the period. Finally, Boston Trust Walden Corp acquired a new stake in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at $26,189,000. Institutional investors and hedge funds 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.