Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Up 4.6% – Should You Buy?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s share price was up 4.6% on Wednesday . The company traded as high as $36.92 and last traded at $36.87. Approximately 616,112 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 651,146 shares. The stock had previously closed at $35.25.

Wall Street Analyst Weigh In

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

Amphastar Pharmaceuticals Stock 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 stock has a fifty day simple moving average of $43.31 and a two-hundred day simple moving average of $44.28. The stock has a market cap of $1.76 billion, a PE ratio of 12.21, a PEG ratio of 0.87 and a beta of 0.82.

Insider Activity

In other news, EVP Yakob Liawatidewi sold 5,214 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.05, for a total transaction of $271,388.70. Following the completion of 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, December 9th. The stock was sold at an average price of $43.77, for a total transaction of $437,700.00. Following the completion of the sale, the director now owns 30,471 shares of the company’s stock, valued at approximately $1,333,715.67. This trade represents a 24.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,533 shares of company stock worth $1,987,482. 27.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AMPH. GAMMA Investing LLC raised its stake in shares of Amphastar Pharmaceuticals by 70.0% in the 3rd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $32,000 after purchasing an additional 273 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Amphastar Pharmaceuticals by 53.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,144 shares of the company’s stock valued at $56,000 after buying an additional 398 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Amphastar Pharmaceuticals during the third quarter valued at approximately $78,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 buying an additional 301 shares during the last quarter. Finally, nVerses Capital LLC grew its position in shares of Amphastar Pharmaceuticals by 18.2% in the 3rd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $126,000 after acquiring an additional 400 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

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.