Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 52-Week Low - What's Next?

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report)'s share price reached a new 52-week low on Monday . The company traded as low as $21.48 and last traded at $21.71, with a volume of 449057 shares changing hands. The stock had previously closed at $22.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMPH shares. Piper Sandler reduced their price target on shares of Amphastar Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company dropped their price objective on shares of Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. reissued 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $32.33.

Amphastar Pharmaceuticals Stock Up 1.5%

The business's fifty day moving average price is $24.53 and its 200 day moving average price is $28.21. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 5.64 and a beta of 0.72. The company has a current ratio of 2.95, a quick ratio of 2.02 and a debt-to-equity ratio of 0.80.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. TD Asset Management Inc raised its stake in shares of Amphastar Pharmaceuticals by 20.2% during the first quarter. TD Asset Management Inc now owns 2,212,142 shares of the company's stock valued at $64,130,000 after purchasing an additional 371,856 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Amphastar Pharmaceuticals by 11.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,263,598 shares of the company's stock valued at $36,632,000 after purchasing an additional 130,672 shares in the last quarter. Epoch Investment Partners Inc. raised its position in Amphastar Pharmaceuticals by 14.5% in the first quarter. Epoch Investment Partners Inc. now owns 1,261,307 shares of the company's stock worth $36,565,000 after acquiring an additional 160,034 shares in the last quarter. Boston Trust Walden Corp raised its position in Amphastar Pharmaceuticals by 24.2% in the first quarter. Boston Trust Walden Corp now owns 1,215,624 shares of the company's stock worth $35,241,000 after acquiring an additional 236,704 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Amphastar Pharmaceuticals by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,198,590 shares of the company's stock worth $44,503,000 after acquiring an additional 105,288 shares in the last quarter. 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.

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