Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock Price Up 12.1% - Here's Why

Key Points

• Amphastar Pharmaceuticals (NASDAQ: AMPH) saw a significant rise in share price, increasing by 12.1% during mid-day trading, reaching a last traded price of $24.24.
• Research firms adjusted their ratings and price targets, with JPMorgan and Piper Sandler lowering their target prices, reflecting a consensus rating of "Hold" and an average target of $30.00.
• Institutional investors hold a substantial share of the stock, with 65.09% of shares owned by hedge funds, signaling strong institutional interest and investment in Amphastar Pharmaceuticals.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report)'s share price traded up 12.1% during mid-day trading on Friday . The company traded as high as $24.70 and last traded at $24.24. 282,551 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 558,904 shares. The stock had previously closed at $21.62.

Analyst Ratings Changes

A number of research firms have commented on AMPH. Needham & Company LLC reaffirmed a "hold" rating on shares of Amphastar Pharmaceuticals in a report on Thursday, April 10th. Piper Sandler dropped their price target on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday. JPMorgan Chase & Co. reissued a "neutral" rating and set a $30.00 target price (down from $45.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, May 12th. Finally, Wells Fargo & Company cut their price target on Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $30.00.

Amphastar Pharmaceuticals Stock Performance

The stock has a market cap of $1.11 billion, a P/E ratio of 8.53 and a beta of 0.76. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.95 and a quick ratio of 2.02. The company has a fifty day moving average of $23.40 and a 200 day moving average of $26.36.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMPH. Geode Capital Management LLC boosted its position in shares of Amphastar Pharmaceuticals by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 973,237 shares of the company's stock valued at $22,348,000 after purchasing an additional 18,161 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Amphastar Pharmaceuticals by 35.5% in the second quarter. PNC Financial Services Group Inc. now owns 6,483 shares of the company's stock worth $149,000 after buying an additional 1,700 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Amphastar Pharmaceuticals in the second quarter worth approximately $487,000. Bank of Montreal Can lifted its position in shares of Amphastar Pharmaceuticals by 43.7% in the 2nd quarter. Bank of Montreal Can now owns 11,790 shares of the company's stock valued at $271,000 after acquiring an additional 3,584 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Amphastar Pharmaceuticals by 8.0% in the 2nd quarter. Assetmark Inc. now owns 43,766 shares of the company's stock worth $1,005,000 after purchasing an additional 3,229 shares during the period. 65.09% of the stock is owned by institutional investors and hedge funds.

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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