Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Gap Down – Here’s Why

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) gapped down before the market opened on Thursday . The stock had previously closed at $53.40, but opened at $47.94. Amphastar Pharmaceuticals shares last traded at $48.65, with a volume of 156,806 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Piper Sandler cut their price objective on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Amphastar Pharmaceuticals has an average rating of “Hold” and a consensus target price of $63.00.

Amphastar Pharmaceuticals Trading Down 10.2 %

The company has a 50 day moving average of $48.50 and a 200-day moving average of $44.12. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.63 and a current ratio of 3.52. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Amphastar Pharmaceuticals had a return on equity of 29.79% and a net margin of 23.36%. The company had revenue of $182.39 million for the quarter, compared to analysts’ expectations of $171.29 million. On average, research analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.7 earnings per share for the current year.

Insider Buying and Selling at Amphastar Pharmaceuticals

In other news, Director Floyd F. Petersen sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $46.47, for a total transaction of $139,410.00. Following the transaction, the director now directly owns 75,409 shares in the company, valued at $3,504,256.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total value of $139,410.00. Following the completion of the sale, the director now owns 75,409 shares of the company’s stock, valued at $3,504,256.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rong Zhou sold 4,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $48.35, for a total value of $193,400.00. Following the sale, the executive vice president now owns 118,388 shares of the company’s stock, valued at $5,724,059.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,101 shares of company stock worth $1,069,350. 27.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several large investors have recently modified their holdings of AMPH. GAMMA Investing LLC grew its stake in shares of Amphastar Pharmaceuticals by 70.0% in the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $32,000 after purchasing an additional 273 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Amphastar Pharmaceuticals by 2.5% during the second quarter. Crossmark Global Holdings Inc. now owns 11,300 shares of the company’s stock valued at $452,000 after purchasing an additional 275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Amphastar Pharmaceuticals by 20.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,761 shares of the company’s stock worth $85,000 after acquiring an additional 301 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Amphastar Pharmaceuticals by 23.9% during the 2nd quarter. Blue Trust Inc. now owns 1,604 shares of the company’s stock valued at $70,000 after buying an additional 309 shares during the last quarter. Finally, nVerses Capital LLC grew its position in Amphastar Pharmaceuticals by 18.2% in the third quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $126,000 after acquiring an additional 400 shares in the last quarter. 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.