Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Up 4.6% – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shot up 4.6% during trading on Wednesday . The company 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

AMPH has been the topic of several research reports. StockNews.com lowered 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 research note on Friday, November 22nd. They set an “equal weight” rating and a $55.00 price target for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.33.

Amphastar Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.61 and a current ratio of 3.43. The firm has a market cap of $1.76 billion, a PE ratio of 12.21, a P/E/G ratio of 0.87 and a beta of 0.82. The stock’s fifty day moving average price is $43.31 and its 200-day moving average price is $44.28.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, EVP Yakob Liawatidewi sold 5,214 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $52.05, for a total value of $271,388.70. Following the transaction, the executive vice president now directly owns 74,938 shares in the company, valued at approximately $3,900,522.90. This represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $43.77, for a total transaction of $437,700.00. Following the sale, the director now directly owns 30,471 shares in the company, valued at $1,333,715.67. This represents a 24.71 % decrease in their ownership of the stock. 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 in the last quarter. Company insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions 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 purchasing an additional 232 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 70.0% during the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $32,000 after acquiring an additional 273 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 worth $85,000 after acquiring an additional 301 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position 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 worth $56,000 after acquiring an additional 398 shares during the last quarter. Finally, nVerses Capital LLC increased its position 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 purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors 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.