Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 12-Month Low – Time to Sell?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $24.94 and last traded at $25.06, with a volume of 47436 shares trading hands. The stock had previously closed at $26.61.

Wall Street Analyst Weigh In

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

Amphastar Pharmaceuticals Trading Down 5.0 %

The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 2.19 and a beta of 0.79. The firm’s 50-day moving average is $29.47 and its 200-day moving average is $38.71. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling

In related news, CFO William J. Peters sold 4,231 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $27.54, for a total transaction of $116,521.74. Following the transaction, the chief financial officer now owns 97,363 shares of the company’s stock, valued at $2,681,377.02. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 27.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in Amphastar Pharmaceuticals during the third quarter worth about $957,000. XTX Topco Ltd purchased a new stake in shares of Amphastar Pharmaceuticals during the third quarter valued at approximately $674,000. Orion Portfolio Solutions LLC bought a new stake in Amphastar Pharmaceuticals during the third quarter worth $239,000. Barclays PLC boosted its position in Amphastar Pharmaceuticals by 53.3% in the third quarter. Barclays PLC now owns 74,456 shares of the company’s stock worth $3,613,000 after purchasing an additional 25,878 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Amphastar Pharmaceuticals by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 920,363 shares of the company’s stock valued at $44,674,000 after purchasing an additional 14,015 shares during the period. 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.