Algert Global LLC Acquires New Shares in Amphastar Pharmaceuticals, Inc. $AMPH

Key Points

• Algert Global LLC has acquired a new stake of approximately $502,000 in Amphastar Pharmaceuticals, purchasing 17,300 shares.
• Recent changes in holdings by other hedge funds include a 20.2% increase in holdings by TD Asset Management and a massive 2,684.3% increase by Royce & Associates.
• Wall Street analysts have mixed ratings for Amphastar, with the current consensus rated as "Moderate Buy" and a target price of $31.50.

Algert Global LLC acquired a new position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,300 shares of the company's stock, valued at approximately $502,000.

Several other institutional investors also recently modified their holdings of AMPH. Signaturefd LLC grew its holdings in shares of Amphastar Pharmaceuticals by 147.7% during the 1st quarter. Signaturefd LLC now owns 872 shares of the company's stock worth $25,000 after purchasing an additional 520 shares in the last quarter. IFP Advisors Inc bought a new position in shares of Amphastar Pharmaceuticals during the 1st quarter worth approximately $34,000. GF Fund Management CO. LTD. bought a new position in shares of Amphastar Pharmaceuticals during the 4th quarter worth approximately $38,000. GAMMA Investing LLC lifted its position in shares of Amphastar Pharmaceuticals by 46.6% during the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the company's stock worth $39,000 after buying an additional 424 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Amphastar Pharmaceuticals by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company's stock worth $43,000 after buying an additional 348 shares during the period. Institutional investors and hedge funds own 65.09% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AMPH shares. Piper Sandler cut their target price on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company cut their target price on Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. restated a "neutral" rating and set a $30.00 target price (down previously from $45.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 12th. Needham & Company LLC upgraded Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating and set a $36.00 target price for the company in a research report on Tuesday, August 12th. Finally, Bank of America lifted their price objective on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $31.60.

Amphastar Pharmaceuticals Stock Performance

NASDAQ:AMPH traded up $0.17 on Friday, hitting $30.43. The company's stock had a trading volume of 136,124 shares, compared to its average volume of 570,151. The company has a current ratio of 3.29, a quick ratio of 2.21 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average of $24.48 and a two-hundred day moving average of $25.80. The firm has a market capitalization of $1.41 billion, a P/E ratio of 11.40 and a beta of 0.76. Amphastar Pharmaceuticals, Inc. has a one year low of $20.39 and a one year high of $53.96.

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.