Amphastar Pharmaceuticals (NASDAQ:AMPH) Share Price Passes Below 50-Day Moving Average – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $19.24 and traded as low as $18.83. Amphastar Pharmaceuticals shares last traded at $19.40, with a volume of 356,067 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMPH shares. Weiss Ratings restated a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, July 8th. Jefferies Financial Group restated a “hold” rating and set a $22.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Bank of America reiterated an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, June 29th. Finally, Barclays dropped their price target on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $22.00.

Amphastar Pharmaceuticals Stock Performance

The company has a market capitalization of $855.35 million, a price-to-earnings ratio of 11.69, a P/E/G ratio of 3.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85. The firm has a 50-day simple moving average of $19.24 and a two-hundred day simple moving average of $22.24.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.28). Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%.The business had revenue of $171.17 million for the quarter, compared to analyst estimates of $173.46 million. On average, sell-side analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in AMPH. SG Americas Securities LLC purchased a new stake in Amphastar Pharmaceuticals during the 4th quarter worth about $2,504,000. Denali Advisors LLC boosted its stake in shares of Amphastar Pharmaceuticals by 56.9% in the 4th quarter. Denali Advisors LLC now owns 211,765 shares of the company’s stock valued at $5,671,000 after buying an additional 76,765 shares during the period. Bridge City Capital LLC grew its position in shares of Amphastar Pharmaceuticals by 72.8% during the fourth quarter. Bridge City Capital LLC now owns 235,485 shares of the company’s stock worth $6,306,000 after buying an additional 99,227 shares in the last quarter. TD Asset Management Inc grew its position in shares of Amphastar Pharmaceuticals by 1.6% during the fourth quarter. TD Asset Management Inc now owns 1,963,052 shares of the company’s stock worth $52,571,000 after buying an additional 31,160 shares in the last quarter. Finally, Cibc World Market Inc. purchased a new stake in shares of Amphastar Pharmaceuticals during the fourth quarter worth approximately $1,666,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.