Martingale Asset Management L P Lowers Holdings in Amphastar Pharmaceuticals, Inc. $AMPH

Key Points

• Martingale Asset Management L P has reduced its shareholding in Amphastar Pharmaceuticals by 39.0%, now holding 24,542 shares valued at approximately $711,000.
• Institutional investors significantly increased their positions in Amphastar, with GAMMA Investing LLC raising holdings by an astonishing 4,151.3% and Picton Mahoney Asset Management by 6,600.0% in the first quarter.
• A consensus of analysts gives Amphastar Pharmaceuticals a Moderate Buy rating, with a current average target price of $31.50 after various adjustments to their price targets.

Martingale Asset Management L P cut its position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 39.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,542 shares of the company's stock after selling 15,663 shares during the quarter. Martingale Asset Management L P owned approximately 0.05% of Amphastar Pharmaceuticals worth $711,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

AMPH has been the topic of several research analyst reports. Piper Sandler reduced their target price on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. restated a "neutral" rating and set a $30.00 price target (down previously from $45.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, May 12th. Wells Fargo & Company lowered 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 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. Finally, Bank of America upped their price target 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 research 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 a consensus target price of $31.60.

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. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.29 and a quick ratio of 2.21. Amphastar Pharmaceuticals, Inc. has a 1 year low of $20.39 and a 1 year high of $53.96. The company's fifty day simple moving average is $24.60 and its 200-day simple moving average is $25.75. The stock has a market capitalization of $1.42 billion, a P/E ratio of 11.47 and a beta of 0.76.

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.