Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 12-Month Low - Here's Why

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $22.43 and last traded at $23.05, with a volume of 129332 shares trading hands. The stock had previously closed at $22.86.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMPH shares. Piper Sandler reduced their target price on Amphastar Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Friday, March 21st. Needham & Company LLC reissued a "hold" rating on shares of Amphastar Pharmaceuticals in a report on Thursday, April 10th. Wells Fargo & Company reduced their target price on Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $30.00 target price (down previously from $45.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $32.33.

Amphastar Pharmaceuticals Trading Down 2.3%

The stock has a market capitalization of $1.02 billion, a PE ratio of 7.87, a P/E/G ratio of 5.84 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. The stock has a 50 day moving average price of $24.59 and a 200-day moving average price of $28.47.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in Amphastar Pharmaceuticals by 43.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company's stock valued at $43,000 after purchasing an additional 348 shares in the last quarter. Huntington National Bank lifted its position in shares of Amphastar Pharmaceuticals by 36.9% in the fourth quarter. Huntington National Bank now owns 1,340 shares of the company's stock valued at $50,000 after acquiring an additional 361 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Amphastar Pharmaceuticals by 4.6% in the fourth quarter. Bank of Montreal Can now owns 8,215 shares of the company's stock valued at $305,000 after acquiring an additional 361 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Amphastar Pharmaceuticals by 22.7% in the fourth quarter. TD Private Client Wealth LLC now owns 2,099 shares of the company's stock valued at $78,000 after acquiring an additional 388 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Amphastar Pharmaceuticals by 46.6% in the first quarter. GAMMA Investing LLC now owns 1,333 shares of the company's stock valued at $39,000 after acquiring an additional 424 shares in the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

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.