Amphastar Pharmaceuticals (NASDAQ:AMPH) Downgraded to Neutral Rating by Piper Sandler

Amphastar Pharmaceuticals (NASDAQ:AMPH) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They currently have a $36.00 target price on the stock, down from their previous target price of $66.00. Piper Sandler’s price target would suggest a potential upside of 7.82% from the stock’s previous close.

A number of other equities research analysts have also issued reports on AMPH. Wells Fargo & Company started coverage on Amphastar Pharmaceuticals in a research note on Friday, November 22nd. They issued an “equal weight” rating and a $55.00 price target for the company. StockNews.com cut shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.33.

Amphastar Pharmaceuticals Stock Performance

Shares of AMPH opened at $33.39 on Tuesday. The stock has a market cap of $1.61 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.07 and a beta of 0.81. The business’s 50 day moving average price is $39.11 and its 200-day moving average price is $43.93. Amphastar Pharmaceuticals has a 52 week low of $32.88 and a 52 week high of $56.45. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling at Amphastar Pharmaceuticals

In related news, EVP Rong Zhou sold 6,893 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $336,929.84. Following the sale, the executive vice president now directly owns 118,388 shares of the company’s stock, valued at $5,786,805.44. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Yakob Liawatidewi sold 5,214 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.05, for a total transaction of $271,388.70. Following the sale, the executive vice president now directly owns 74,938 shares of the company’s stock, valued at approximately $3,900,522.90. This represents a 6.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,533 shares of company stock worth $1,987,482 over the last ninety days. Corporate insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Amphastar Pharmaceuticals by 70.0% in the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $32,000 after acquiring an additional 273 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised 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 purchasing an additional 398 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in Amphastar Pharmaceuticals during the third quarter worth about $78,000. KBC Group NV lifted its holdings in Amphastar Pharmaceuticals by 43.1% during the 4th quarter. KBC Group NV now owns 2,159 shares of the company’s stock worth $80,000 after buying an additional 650 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 valued at $85,000 after acquiring an additional 301 shares during the last quarter. 65.09% of the stock is currently owned by institutional investors.

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.