Martingale Asset Management L P Trims Position 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 holdings in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,542 shares of the company's stock after selling 15,663 shares during the period. Martingale Asset Management L P owned 0.05% of Amphastar Pharmaceuticals worth $711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 147.7% in the first quarter. Signaturefd LLC now owns 872 shares of the company's stock worth $25,000 after acquiring an additional 520 shares during the period. IFP Advisors Inc bought a new stake in shares of Amphastar Pharmaceuticals during the 1st quarter valued at $34,000. GF Fund Management CO. LTD. purchased a new stake in Amphastar Pharmaceuticals during the 4th quarter worth about $38,000. GAMMA Investing LLC lifted its holdings in Amphastar Pharmaceuticals by 46.6% during the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the company's stock worth $39,000 after purchasing an additional 424 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Amphastar Pharmaceuticals in the 1st quarter worth about $39,000. Institutional investors own 65.09% of the company's stock.

Amphastar Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ:AMPH traded up $0.31 during trading on Friday, reaching $30.57. 158,528 shares of the company traded hands, compared to its average volume of 570,261. The company has a current ratio of 3.29, a quick ratio of 2.21 and a debt-to-equity ratio of 0.80. Amphastar Pharmaceuticals, Inc. has a 52-week low of $20.39 and a 52-week high of $53.96. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.46 and a beta of 0.76. The business's fifty day moving average is $24.48 and its 200-day moving average is $25.80.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMPH. Needham & Company LLC upgraded Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating and set a $36.00 price target on the stock in a research report on Tuesday, August 12th. Wells Fargo & Company decreased their target price on shares of Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Bank of America raised their price target on shares of Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a report on Tuesday. JPMorgan Chase & Co. restated a "neutral" rating and set a $30.00 price target (down from $45.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 12th. Finally, Piper Sandler lowered their price objective 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Amphastar Pharmaceuticals has an average rating of "Hold" and an average price target of $31.60.

Amphastar Pharmaceuticals Company 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.