Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 1-Year Low - Here's Why

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMPH shares. Piper Sandler cut their target price on Amphastar Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. restated a "neutral" rating and set a $30.00 price objective (down from $45.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, May 12th. Wells Fargo & Company dropped their target price on shares of Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Amphastar Pharmaceuticals in a report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $32.33.

Amphastar Pharmaceuticals Price Performance

The firm has a fifty day moving average of $24.35 and a 200 day moving average of $28.01. The company has a current ratio of 2.95, a quick ratio of 2.02 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1.03 billion, a P/E ratio of 7.89, a P/E/G ratio of 5.52 and a beta of 0.72.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in Amphastar Pharmaceuticals by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 21,892 shares of the company's stock valued at $502,000 after acquiring an additional 1,111 shares during the period. CX Institutional boosted its holdings in shares of Amphastar Pharmaceuticals by 220.5% in the second quarter. CX Institutional now owns 263,283 shares of the company's stock worth $6,045,000 after buying an additional 181,136 shares during the last quarter. Significant Wealth Partners LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 58.4% in the second quarter. Significant Wealth Partners LLC now owns 16,178 shares of the company's stock worth $371,000 after buying an additional 5,963 shares during the last quarter. GAMMA Investing LLC grew its position in Amphastar Pharmaceuticals by 62.2% during the second quarter. GAMMA Investing LLC now owns 2,162 shares of the company's stock valued at $50,000 after buying an additional 829 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Amphastar Pharmaceuticals by 9.2% during the second quarter. Assenagon Asset Management S.A. now owns 16,610 shares of the company's stock valued at $381,000 after buying an additional 1,394 shares during the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

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.