Invesco Ltd. Sells 2,439,721 Shares of Amphastar Pharmaceuticals, Inc. $AMPH

Key Points

• Invesco Ltd. significantly reduced its stake in Amphastar Pharmaceuticals by 87.2%, selling over 2.4 million shares and now holding only approximately 0.76% of the company.
• Several hedge funds have recently made moves with Amphastar shares, with Signaturefd LLC increasing its position by 147.7% during the 1st quarter, while other firms acquired new positions or also lifted their stakes.
• Analysts have shown mixed sentiment towards Amphastar, with recent price target adjustments: JPMorgan lowered its target from $45.00 to $30.00, while Needham & Company upgraded its rating to buy with a target of $36.00.

Invesco Ltd. cut its position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 87.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 359,143 shares of the company's stock after selling 2,439,721 shares during the quarter. Invesco Ltd. owned approximately 0.76% of Amphastar Pharmaceuticals worth $10,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in Amphastar Pharmaceuticals by 4,151.3% in the 1st quarter. GAMMA Investing LLC now owns 38,644 shares of the company's stock valued at $1,120,000 after buying an additional 37,735 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Amphastar Pharmaceuticals by 14.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,790 shares of the company's stock worth $400,000 after acquiring an additional 1,694 shares during the last quarter. Deutsche Bank AG increased its position in Amphastar Pharmaceuticals by 46.6% during the fourth quarter. Deutsche Bank AG now owns 34,082 shares of the company's stock worth $1,265,000 after acquiring an additional 10,839 shares during the period. Picton Mahoney Asset Management increased its position in Amphastar Pharmaceuticals by 6,600.0% during the first quarter. Picton Mahoney Asset Management now owns 1,608 shares of the company's stock worth $46,000 after acquiring an additional 1,584 shares during the period. Finally, ProShare Advisors LLC increased its position in Amphastar Pharmaceuticals by 27.2% during the fourth quarter. ProShare Advisors LLC now owns 13,852 shares of the company's stock worth $514,000 after acquiring an additional 2,958 shares during the period. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals Stock Performance

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 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 $24.60 and a 200 day moving average price of $25.75. The company has a market capitalization of $1.42 billion, a P/E ratio of 11.47 and a beta of 0.76.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMPH. Wells Fargo & Company dropped their target price on shares of Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC raised shares of Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating and set a $36.00 target price on the stock in a research report on Tuesday, August 12th. Bank of America boosted their target price on shares of Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the stock a "neutral" rating in a research report on Tuesday. Piper Sandler dropped their target price on shares of Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amphastar Pharmaceuticals currently has an average rating of "Hold" and an average price target of $31.60.

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.