Amphastar Pharmaceuticals (NASDAQ:AMPH) Reaches New 12-Month Low – Should You Sell?

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.

Analyst Upgrades and Downgrades

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

Amphastar Pharmaceuticals Stock Down 0.6 %

The firm has a 50 day simple moving average of $38.89 and a two-hundred day simple moving average of $43.88. 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 stock has a market capitalization of $1.60 billion, a P/E ratio of 11.06, a PEG ratio of 1.07 and a beta of 0.81.

Insiders Place Their Bets

In other news, Director Richard K. Prins sold 10,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $43.77, for a total transaction of $437,700.00. Following the completion of the transaction, the director now directly owns 30,471 shares in the company, valued at approximately $1,333,715.67. This represents a 24.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rong Zhou sold 7,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total transaction of $310,940.00. Following the transaction, the executive vice president now owns 118,469 shares of the company’s stock, valued at $5,262,392.98. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,893 shares of company stock worth $1,329,570 over the last three months. Insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Amphastar Pharmaceuticals by 70.0% during the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $32,000 after buying an additional 273 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Amphastar Pharmaceuticals by 53.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock worth $56,000 after buying an additional 398 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Amphastar Pharmaceuticals during the third quarter worth $78,000. KBC Group NV increased its holdings in Amphastar Pharmaceuticals by 43.1% in the fourth quarter. KBC Group NV now owns 2,159 shares of the company’s stock valued at $80,000 after purchasing an additional 650 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Amphastar Pharmaceuticals by 20.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,761 shares of the company’s stock valued at $85,000 after purchasing an additional 301 shares during the period. 65.09% of the stock is currently owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

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.