Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Down 6.7% – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shares were down 6.7% on Wednesday . The stock traded as low as $18.52 and last traded at $18.7380. Approximately 155,142 shares traded hands during trading, a decline of 71% from the average daily volume of 544,074 shares. The stock had previously closed at $20.08.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMPH. Barclays reduced their target price on Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Weiss Ratings downgraded Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Zacks Research lowered Amphastar Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Finally, Bank of America restated an “underperform” rating and set a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, June 29th. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $22.00.

Amphastar Pharmaceuticals Stock Performance

The firm has a market capitalization of $830.93 million, a price-to-earnings ratio of 11.35, a P/E/G ratio of 3.86 and a beta of 0.89. The company has a 50-day moving average price of $19.64 and a 200-day moving average price of $22.56. 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 (NASDAQ:AMPH) last posted 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 company had revenue of $171.17 million during the quarter, compared to analyst estimates of $173.46 million. Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%. As a group, equities research analysts forecast that Amphastar Pharmaceuticals, Inc. will post 2.41 earnings per share for the current year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of large investors have recently made changes to their positions in AMPH. FNY Investment Advisers LLC acquired a new stake in Amphastar Pharmaceuticals during the 3rd quarter worth about $26,000. Quarry LP acquired a new stake in shares of Amphastar Pharmaceuticals during the third quarter worth approximately $32,000. Farther Finance Advisors LLC increased its stake in Amphastar Pharmaceuticals by 46.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock valued at $37,000 after buying an additional 437 shares during the period. GAMMA Investing LLC lifted its position in Amphastar Pharmaceuticals by 37.8% in 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 valued at $60,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 65.09% of the company’s stock.

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.