Piper Sandler Lowers Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target to $25.00

Key Points

• Amphastar Pharmaceuticals' price target has been reduced from $30.00 to $25.00 by Piper Sandler, maintaining a "neutral" rating on the stock, which indicates a potential upside of 15.63% from current levels.
• Multiple analysts have adjusted their price targets, with Wells Fargo lowering it to $35.00 and JPMorgan reducing theirs to $30.00, while the average target across analysts stands at $30.00.
• The stock currently trades at $21.62, with a market capitalization of approximately $1.02 billion and high volatility indicated by a beta of 0.76.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) had its price objective cut by analysts at Piper Sandler from $30.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target suggests a potential downside of 17.76% from the company's previous close.

Several other analysts also recently weighed in on AMPH. Needham & Company LLC restated a "hold" rating on shares of Amphastar Pharmaceuticals in a report on Thursday, April 10th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $30.00 target price (down from $45.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 12th. Finally, Wells Fargo & Company reduced their target price 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $31.50.

Amphastar Pharmaceuticals Stock Up 11.1%

Shares of AMPH stock traded up $3.04 on Friday, hitting $30.40. The stock had a trading volume of 1,156,201 shares, compared to its average volume of 575,792. The company has a quick ratio of 2.21, a current ratio of 3.29 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average price of $23.39 and a 200 day moving average price of $26.07. The company has a market cap of $1.41 billion, a PE ratio of 11.44 and a beta of 0.76. Amphastar Pharmaceuticals has a one year low of $20.39 and a one year high of $53.96.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. TD Asset Management Inc increased its holdings 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 acquiring an additional 371,856 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings 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 acquiring an additional 130,672 shares in the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Amphastar Pharmaceuticals by 14.5% during the first quarter. Epoch Investment Partners Inc. now owns 1,261,307 shares of the company's stock valued at $36,565,000 after acquiring an additional 160,034 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of Amphastar Pharmaceuticals by 24.2% during the first quarter. Boston Trust Walden Corp now owns 1,215,624 shares of the company's stock valued at $35,241,000 after acquiring an additional 236,704 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Amphastar Pharmaceuticals by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,198,590 shares of the company's stock valued at $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.