Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 12-Month Low - What's Next?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $20.43 and last traded at $20.74, with a volume of 430242 shares changing hands. The stock had previously closed at $21.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $30.00 price target (down from $45.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, May 12th. Needham & Company LLC reissued a "hold" rating on shares of Amphastar Pharmaceuticals in a report on Thursday, April 10th. Finally, Wells Fargo & Company lowered their price target on Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $32.33.

Amphastar Pharmaceuticals Stock Performance

The stock's fifty day moving average price is $24.23 and its two-hundred day moving average price is $27.66. The company has a market cap of $978.86 million, a P/E ratio of 7.54 and a beta of 0.72. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.02 and a current ratio of 2.95.

Institutional Trading of Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Amphastar Pharmaceuticals during the fourth quarter valued at about $3,450,000. PNC Financial Services Group Inc. raised its stake in shares of Amphastar Pharmaceuticals by 90.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,203 shares of the company's stock valued at $156,000 after acquiring an additional 1,992 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Amphastar Pharmaceuticals by 17.7% in the 4th quarter. Teacher Retirement System of Texas now owns 11,548 shares of the company's stock valued at $429,000 after purchasing an additional 1,736 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Amphastar Pharmaceuticals by 22.7% in the fourth quarter. TD Private Client Wealth LLC now owns 2,099 shares of the company's stock worth $78,000 after purchasing an additional 388 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Amphastar Pharmaceuticals during the 4th quarter valued at approximately $945,000. Hedge funds and other institutional investors own 65.09% of the company's stock.

Amphastar Pharmaceuticals Company Profile

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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