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. decreased its position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 87.2% during the 1st quarter, according to its most recent Form 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 about 0.76% of Amphastar Pharmaceuticals worth $10,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Amphastar Pharmaceuticals by 4,151.3% in the first quarter. GAMMA Investing LLC now owns 38,644 shares of the company's stock valued at $1,120,000 after purchasing an additional 37,735 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Amphastar Pharmaceuticals by 14.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,790 shares of the company's stock worth $400,000 after buying an additional 1,694 shares in the last quarter. Deutsche Bank AG grew 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 buying an additional 10,839 shares in the last quarter. Picton Mahoney Asset Management grew 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 buying an additional 1,584 shares in the last quarter. Finally, ProShare Advisors LLC grew 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 buying an additional 2,958 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company's stock.

Amphastar Pharmaceuticals Stock Up 0.6%

Shares of AMPH traded up $0.17 during trading hours on Friday, hitting $30.43. The stock had a trading volume of 136,124 shares, compared to its average volume of 570,151. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.29 and a quick ratio of 2.21. The firm has a 50 day simple moving average of $24.48 and a 200-day simple 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 1-year low of $20.39 and a 1-year high of $53.96.

Analysts Set New Price Targets

AMPH has been the subject of several recent analyst reports. 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 note on Tuesday, August 12th. 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 note on Friday, August 8th. JPMorgan Chase & Co. restated 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. 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 note on Thursday, May 8th. Finally, Bank of America upped their target price on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the stock a "neutral" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.