Federated Hermes Inc. Lowers Stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Key Points

• Federated Hermes Inc. has decreased its holdings in Amphastar Pharmaceuticals by 28.9%, ending the first quarter with 585,115 shares valued at approximately $16.96 million.
• Wells Fargo lowered its price target for Amphastar from $40 to $35, while JPMorgan reduced its target from $45 to $30, reflecting a consensus rating of "Hold" among analysts.
• Amphastar Pharmaceuticals' shares have seen a 1.2% increase, with a current trading price of $21.21, despite a significant drop from its 52-week high of $53.96.

Federated Hermes Inc. trimmed its holdings in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 28.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 585,115 shares of the company's stock after selling 238,372 shares during the period. Federated Hermes Inc. owned approximately 1.23% of Amphastar Pharmaceuticals worth $16,962,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Signaturefd LLC raised its stake in Amphastar Pharmaceuticals by 147.7% during the 1st quarter. Signaturefd LLC now owns 872 shares of the company's stock valued at $25,000 after acquiring an additional 520 shares during the last quarter. IFP Advisors Inc acquired a new position in shares of Amphastar Pharmaceuticals in the first quarter worth about $34,000. GF Fund Management CO. LTD. bought a new position in Amphastar Pharmaceuticals in the fourth quarter worth about $38,000. GAMMA Investing LLC raised its stake in Amphastar Pharmaceuticals by 46.6% during the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the company's stock valued at $39,000 after acquiring an additional 424 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings 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 buying an additional 348 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMPH. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. reissued a "neutral" rating and set a $30.00 price objective (down from $45.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 12th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Amphastar Pharmaceuticals in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $32.33.

Amphastar Pharmaceuticals Stock Performance

Shares of Amphastar Pharmaceuticals stock traded up $0.04 during trading hours on Tuesday, hitting $21.44. 134,138 shares of the company's stock traded hands, compared to its average volume of 559,196. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 7.77 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 simple moving average of $23.65 and a 200-day simple moving average of $26.53. Amphastar Pharmaceuticals, Inc. has a 12-month low of $20.39 and a 12-month 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.