Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 52-Week Low – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s share price reached a new 52-week low on Monday . The stock traded as low as $35.54 and last traded at $35.54, with a volume of 76329 shares changing hands. The stock had previously closed at $36.30.

Wall Street Analysts Forecast Growth

AMPH has been the subject of several recent research reports. StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Wells Fargo & Company initiated coverage on shares of Amphastar Pharmaceuticals in a report on Friday, November 22nd. They set an “equal weight” rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Stock Up 3.9 %

The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.82. The stock has a 50-day moving average of $43.31 and a 200-day moving average of $44.28.

Insiders Place Their Bets

In related news, EVP Rong Zhou sold 7,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $44.42, for a total value of $310,940.00. Following the transaction, the executive vice president now owns 118,469 shares in the company, valued at approximately $5,262,392.98. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William J. Peters sold 7,426 shares of Amphastar Pharmaceuticals stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $52.05, for a total transaction of $386,523.30. Following the completion of the sale, the chief financial officer now directly owns 94,103 shares of the company’s stock, valued at approximately $4,898,061.15. The trade was a 7.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,533 shares of company stock worth $1,987,482. 27.10% of the stock is owned by insiders.

Institutional Trading of Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aurora Investment Counsel increased its stake in Amphastar Pharmaceuticals by 0.4% in the third quarter. Aurora Investment Counsel now owns 54,698 shares of the company’s stock valued at $2,654,000 after acquiring an additional 232 shares during the period. GAMMA Investing LLC grew its stake in shares of Amphastar Pharmaceuticals by 70.0% during the third quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $32,000 after purchasing an additional 273 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Amphastar Pharmaceuticals by 20.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,761 shares of the company’s stock valued at $85,000 after buying an additional 301 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in Amphastar Pharmaceuticals by 53.4% during the 3rd 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 during the period. Finally, nVerses Capital LLC boosted its stake in Amphastar Pharmaceuticals by 18.2% in the third quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock valued at $126,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds 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.