Amphastar Pharmaceuticals (NASDAQ:AMPH) Director Sells 500 Shares

Key Points

• Floyd Petersen, a director at Amphastar Pharmaceuticals, sold 500 shares of the company's stock for a total of $13,600, reducing his ownership by 0.65%.
• The company’s stock has seen a 1.7% decline recently, with the price trading at $26.52 after a 50-day moving average of $27.13.
• Analyst ratings on Amphastar Pharmaceuticals vary, with two giving a Buy rating and three a Hold rating, producing an average price target of $31.60.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) Director Floyd Petersen sold 500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $27.20, for a total value of $13,600.00. Following the sale, the director owned 76,031 shares of the company's stock, valued at approximately $2,068,043.20. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Amphastar Pharmaceuticals Stock Down 1.7%

NASDAQ AMPH traded down $0.47 on Thursday, reaching $26.52. The stock had a trading volume of 288,366 shares, compared to its average volume of 558,948. The company has a current ratio of 3.29, a quick ratio of 2.21 and a debt-to-equity ratio of 0.80. Amphastar Pharmaceuticals, Inc. has a 1 year low of $20.39 and a 1 year high of $53.96. The business has a 50 day moving average price of $27.13 and a 200 day moving average price of $25.55. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.93 and a beta of 0.75.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of AMPH. Signaturefd LLC boosted its holdings in Amphastar Pharmaceuticals by 147.7% in the 1st quarter. Signaturefd LLC now owns 872 shares of the company's stock valued at $25,000 after purchasing an additional 520 shares during the period. IFP Advisors Inc acquired a new position in shares of Amphastar Pharmaceuticals during the first quarter valued at about $34,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Amphastar Pharmaceuticals by 192.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,262 shares of the company's stock valued at $29,000 after buying an additional 831 shares during the period. GAMMA Investing LLC grew its position in Amphastar Pharmaceuticals by 46.6% during the first quarter. GAMMA Investing LLC now owns 1,333 shares of the company's stock worth $39,000 after buying an additional 424 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Amphastar Pharmaceuticals during the first quarter worth about $39,000. Institutional investors and hedge funds own 65.09% of the company's stock.

Analyst Upgrades and Downgrades

AMPH has been the topic of several recent research reports. Piper Sandler cut their target price on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Bank of America lifted their price target on shares of Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Finally, Needham & Company LLC upgraded shares of Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating and set a $36.00 target price on the stock in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $31.60.

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.

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