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

Several other hedge funds have also made changes to their positions in the stock. Signaturefd LLC lifted its stake in Amphastar Pharmaceuticals by 147.7% during the first quarter. Signaturefd LLC now owns 872 shares of the company's stock worth $25,000 after purchasing an additional 520 shares during the period. GF Fund Management CO. LTD. bought a new position in Amphastar Pharmaceuticals during the fourth quarter worth about $38,000. Tower Research Capital LLC TRC lifted its stake 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 worth $43,000 after purchasing an additional 348 shares during the period. IFP Advisors Inc bought a new position in Amphastar Pharmaceuticals during the first quarter worth about $34,000. Finally, GAMMA Investing LLC raised its stake 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 during the last quarter. Institutional investors own 65.09% of the company's stock.

Analysts Set New Price Targets

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

Amphastar Pharmaceuticals Trading Up 1.2%

AMPH traded up $0.36 during trading on Friday, reaching $30.62. 290,925 shares of the company's stock were exchanged, compared to its average volume of 638,844. Amphastar Pharmaceuticals, Inc. has a fifty-two week low of $20.39 and a fifty-two week high of $53.96. The firm has a market capitalization of $1.42 billion, a PE ratio of 11.47 and a beta of 0.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.21 and a current ratio of 3.29. The company's fifty day moving average price is $24.60 and its 200-day moving average price is $25.75.

Amphastar Pharmaceuticals 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.