Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock Price Down 8.8% – What’s Next?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price traded down 8.8% during trading on Monday . The company traded as low as $20.15 and last traded at $19.8550. Approximately 100,318 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 548,144 shares. The stock had previously closed at $21.78.

Analyst Ratings Changes

A number of research firms recently issued reports on AMPH. Wells Fargo & Company reissued an “equal weight” rating and set a $19.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Thursday, May 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, April 21st. Zacks Research cut Amphastar Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Finally, Bank of America reiterated an “underperform” rating and issued a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $22.00.

Amphastar Pharmaceuticals Trading Down 5.7%

The firm has a market capitalization of $905.89 million, a PE ratio of 12.39, a P/E/G ratio of 4.28 and a beta of 0.91. The business has a 50 day moving average price of $19.89 and a 200-day moving average price of $22.85. The company has a current ratio of 3.85, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79.

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

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMPH. SG Americas Securities LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the fourth quarter valued at about $2,504,000. Clark Capital Management Group Inc. acquired a new position in Amphastar Pharmaceuticals during the third quarter worth about $7,560,000. Denali Advisors LLC grew its position in Amphastar Pharmaceuticals by 56.9% during the fourth quarter. Denali Advisors LLC now owns 211,765 shares of the company’s stock worth $5,671,000 after buying an additional 76,765 shares during the period. Royce & Associates LP increased its holdings in Amphastar Pharmaceuticals by 29.4% in the third quarter. Royce & Associates LP now owns 366,322 shares of the company’s stock valued at $9,762,000 after buying an additional 83,135 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Amphastar Pharmaceuticals by 216.1% during the 3rd quarter. Algert Global LLC now owns 392,902 shares of the company’s stock valued at $10,471,000 after acquiring an additional 268,612 shares during the period. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

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.