Analysts Set Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Price Target at $31.60

Key Points

• Amphastar Pharmaceuticals has a consensus rating of "Hold" from five analysts, with three holding and two assigning buy ratings, averaging a 12-month price target of $31.60.
• Recent analyst activity includes Needham & Company upgrading the stock to "Buy" with a target of $36.00, while Piper Sandler lowered its target to $25.00.
• Approximately 65.09% of Amphastar's stock is held by hedge funds and institutional investors, indicating strong institutional interest in the company.

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) have been given an average rating of "Hold" by the five brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $31.60.

Several research firms have issued reports on AMPH. Bank of America upped their price objective on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. Needham & Company LLC raised Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating and set a $36.00 target price on the stock in a report on Tuesday, August 12th. Finally, Piper Sandler cut their price objective on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, August 8th.

Amphastar Pharmaceuticals Stock Up 0.9%

AMPH traded up $0.25 on Friday, hitting $27.89. 424,601 shares of the company were exchanged, compared to its average volume of 566,019. Amphastar Pharmaceuticals has a 12 month low of $20.39 and a 12 month high of $53.96. The company has a market cap of $1.30 billion, a PE ratio of 10.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.21 and a current ratio of 3.29. The stock's fifty day moving average is $26.25 and its 200-day moving average is $25.54.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 4,151.3% during the 1st quarter. GAMMA Investing LLC now owns 38,644 shares of the company's stock valued at $1,120,000 after acquiring an additional 37,735 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Amphastar Pharmaceuticals by 14.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,790 shares of the company's stock worth $400,000 after acquiring an additional 1,694 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Amphastar Pharmaceuticals by 46.6% in the 4th quarter. Deutsche Bank AG now owns 34,082 shares of the company's stock valued at $1,265,000 after buying an additional 10,839 shares during the period. Picton Mahoney Asset Management grew its stake in shares of Amphastar Pharmaceuticals by 6,600.0% in the 1st quarter. Picton Mahoney Asset Management now owns 1,608 shares of the company's stock valued at $46,000 after buying an additional 1,584 shares during the period. Finally, Graham Capital Management L.P. acquired a new stake in shares of Amphastar Pharmaceuticals in the 1st quarter valued at about $766,000. Institutional investors and hedge funds own 65.09% of the company's stock.

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.