Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock Price Down 3.1% – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price traded down 3.1% during mid-day trading on Wednesday . The stock traded as low as $27.40 and last traded at $27.40. 329,343 shares were traded during mid-day trading, a decline of 25% from the average session volume of 440,785 shares. The stock had previously closed at $28.29.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on Amphastar Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, March 21st.

Amphastar Pharmaceuticals Stock Down 2.5 %

The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 2.19 and a beta of 0.79. The company has a quick ratio of 2.61, a current ratio of 3.43 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $30.78 and a 200-day moving average price of $39.63.

Insiders Place Their Bets

In related news, CFO William J. Peters sold 4,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $27.54, for a total transaction of $116,521.74. Following the completion of the transaction, the chief financial officer now owns 97,363 shares of the company’s stock, valued at approximately $2,681,377.02. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 27.10% of the stock is owned by corporate insiders.

Institutional Trading of Amphastar Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in Amphastar Pharmaceuticals by 222.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock valued at $26,000 after acquiring an additional 493 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Amphastar Pharmaceuticals by 806.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock valued at $36,000 after purchasing an additional 871 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Amphastar Pharmaceuticals during the 4th quarter worth about $38,000. Tower Research Capital LLC TRC increased its position in Amphastar Pharmaceuticals by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company’s stock worth $43,000 after purchasing an additional 348 shares in the last quarter. Finally, Huntington National Bank raised its holdings in Amphastar Pharmaceuticals by 36.9% in the fourth quarter. Huntington National Bank now owns 1,340 shares of the company’s stock valued at $50,000 after buying an additional 361 shares during the period. 65.09% of the stock is owned by hedge funds and other 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.