Amphastar Pharmaceuticals (NASDAQ:AMPH) Given New $30.00 Price Target at Needham & Company LLC

Amphastar Pharmaceuticals (NASDAQ:AMPHGet Free Report) had its price objective cut by research analysts at Needham & Company LLC from $34.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 13.25% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Zacks Research lowered shares of Amphastar Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Barclays initiated coverage on shares of Amphastar Pharmaceuticals in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $30.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.33.

Read Our Latest Analysis on AMPH

Amphastar Pharmaceuticals Price Performance

NASDAQ AMPH opened at $26.49 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.21 and a current ratio of 3.12. The firm’s 50 day moving average price is $27.36 and its 200-day moving average price is $27.06. Amphastar Pharmaceuticals has a 52-week low of $20.39 and a 52-week high of $31.70. The company has a market cap of $1.22 billion, a PE ratio of 11.72, a P/E/G ratio of 5.10 and a beta of 0.88.

Insider Activity

In other Amphastar Pharmaceuticals news, EVP Rong Zhou sold 9,787 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $26.20, for a total value of $256,419.40. Following the completion of the transaction, the executive vice president owned 138,043 shares in the company, valued at approximately $3,616,726.60. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Floyd F. Petersen sold 2,426 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.92, for a total value of $62,881.92. Following the transaction, the director owned 71,368 shares in the company, valued at $1,849,858.56. This represents a 3.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,950 shares of company stock valued at $363,925. Insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Amphastar Pharmaceuticals by 82.0% in the first quarter. AQR Capital Management LLC now owns 53,638 shares of the company’s stock valued at $1,555,000 after buying an additional 24,167 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Amphastar Pharmaceuticals by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,489 shares of the company’s stock valued at $652,000 after acquiring an additional 613 shares in the last quarter. Intech Investment Management LLC raised its holdings in Amphastar Pharmaceuticals by 43.0% in the 1st quarter. Intech Investment Management LLC now owns 60,289 shares of the company’s stock valued at $1,748,000 after acquiring an additional 18,133 shares during the last quarter. CWM LLC lifted its stake in Amphastar Pharmaceuticals by 574.0% in the 2nd quarter. CWM LLC now owns 4,502 shares of the company’s stock worth $103,000 after purchasing an additional 3,834 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Amphastar Pharmaceuticals in the 2nd quarter worth approximately $407,000. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals News Summary

Here are the key news stories impacting Amphastar Pharmaceuticals this week:

About Amphastar Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Amphastar Pharmaceuticals (NASDAQ:AMPH)

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