Amphastar Pharmaceuticals (NASDAQ:AMPH) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $55.00 price objective on the stock.

AMPH has been the topic of several other reports. StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Thursday, August 8th. Finally, Piper Sandler dropped their target price on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Amphastar Pharmaceuticals has an average rating of “Hold” and an average price target of $60.33.

Amphastar Pharmaceuticals Stock Performance

Shares of AMPH stock opened at $45.46 on Friday. 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 company has a 50 day moving average price of $48.31 and a 200-day moving average price of $44.42. Amphastar Pharmaceuticals has a 52 week low of $36.56 and a 52 week high of $65.92. The firm has a market capitalization of $2.19 billion, a PE ratio of 15.15, a P/E/G ratio of 0.87 and a beta of 0.82.

Insider Buying and Selling

In related news, EVP Yakob Liawatidewi sold 5,214 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 $271,388.70. Following the transaction, the executive vice president now owns 74,938 shares in the company, valued at approximately $3,900,522.90. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Floyd F. Petersen sold 3,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the completion of the transaction, the director now directly owns 75,409 shares of the company’s stock, valued at $3,504,256.23. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,533 shares of company stock valued at $1,571,652. 27.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Amphastar Pharmaceuticals by 70.0% in 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 last quarter. Innealta Capital LLC purchased a new position in Amphastar Pharmaceuticals during the 2nd quarter valued at approximately $55,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Amphastar Pharmaceuticals by 53.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock worth $56,000 after acquiring an additional 398 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Amphastar Pharmaceuticals by 23.9% during the 2nd quarter. Blue Trust Inc. now owns 1,604 shares of the company’s stock worth $70,000 after acquiring an additional 309 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of Amphastar Pharmaceuticals during the 3rd quarter valued at approximately $78,000. 65.09% of the stock is owned by hedge funds and other institutional investors.

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.