Cibc World Market Inc. Purchases New Stake in Amphastar Pharmaceuticals, Inc. $AMPH

Cibc World Market Inc. acquired a new position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 62,192 shares of the company’s stock, valued at approximately $1,666,000.

Other large investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $26,000. Quarry LP bought a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $32,000. Farther Finance Advisors LLC increased its position in Amphastar Pharmaceuticals by 46.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock worth $37,000 after buying an additional 437 shares during the period. GAMMA Investing LLC increased its position in Amphastar Pharmaceuticals by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock worth $45,000 after buying an additional 462 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Amphastar Pharmaceuticals by 24.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock worth $60,000 after buying an additional 435 shares during the period. Institutional investors own 65.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMPH shares. Barclays lowered their price objective on Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Jefferies Financial Group restated a “hold” rating and issued a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Wells Fargo & Company restated an “equal weight” rating and issued a $19.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Thursday, May 14th. Piper Sandler restated a “neutral” rating and issued a $21.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 11th. Finally, Weiss Ratings cut Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $24.00.

Amphastar Pharmaceuticals Stock Performance

NASDAQ:AMPH opened at $20.16 on Wednesday. The stock’s 50-day simple moving average is $20.05 and its 200 day simple moving average is $23.48. The firm has a market capitalization of $888.85 million, a PE ratio of 12.14, a price-to-earnings-growth ratio of 3.81 and a beta of 0.91. The company has a quick ratio of 2.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.79. Amphastar Pharmaceuticals, Inc. has a twelve month low of $16.65 and a twelve month high of $31.26.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.28). The business had revenue of $171.17 million during the quarter, compared to analyst estimates of $173.46 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. On average, analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.41 EPS for the current fiscal year.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.