Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Up 4.6% – Should You Buy?

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

Analysts Set New Price Targets

A number of analysts have commented on AMPH shares. StockNews.com lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a report on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $60.33.

Amphastar Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 3.43 and a quick ratio of 2.61. The company’s 50 day simple moving average is $42.75 and its 200 day simple moving average is $44.18. The stock has a market cap of $1.75 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.87 and a beta of 0.82.

Insiders Place Their Bets

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 5,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.80, for a total value of $244,000.00. Following the sale, the director now owns 31,471 shares of the company’s stock, valued at $1,535,784.80. This trade represents a 13.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rong Zhou sold 6,893 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $336,929.84. Following the transaction, the executive vice president now directly owns 118,388 shares of the company’s stock, valued at approximately $5,786,805.44. This trade represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,533 shares of company stock worth $1,987,482 over the last ninety days. 27.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 273 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Amphastar Pharmaceuticals by 53.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock valued at $56,000 after acquiring an additional 398 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Amphastar Pharmaceuticals during the 3rd quarter worth approximately $78,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Amphastar Pharmaceuticals by 20.6% during the 3rd 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 during the period. Finally, nVerses Capital LLC grew its stake in Amphastar Pharmaceuticals by 18.2% during the third quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $126,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

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.