Millennium Management LLC Boosts Stake in Amphastar Pharmaceuticals, Inc. $AMPH

Key Points

• Millennium Management LLC has increased its stake in Amphastar Pharmaceuticals by 238.5%, owning approximately 1.83% of the company's stock valued at $25.2 million.
• Several other hedge funds also boosted their positions in Amphastar, contributing to a total of 65.09% institutional ownership in the company.
• Analysts' ratings for Amphastar Pharmaceuticals show a mixed outlook, with two buy ratings and three hold ratings, and a consensus target price of $31.60.

Millennium Management LLC increased its stake in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 238.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 868,551 shares of the company's stock after purchasing an additional 611,995 shares during the period. Millennium Management LLC owned approximately 1.83% of Amphastar Pharmaceuticals worth $25,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of 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 during the period. Hohimer Wealth Management LLC lifted its holdings in Amphastar Pharmaceuticals by 6.9% during the 1st quarter. Hohimer Wealth Management LLC now owns 8,005 shares of the company's stock worth $232,000 after buying an additional 520 shares in the last quarter. Signaturefd LLC lifted its holdings in Amphastar Pharmaceuticals by 147.7% during the 1st quarter. Signaturefd LLC now owns 872 shares of the company's stock worth $25,000 after buying an additional 520 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Amphastar Pharmaceuticals by 13.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,783 shares of the company's stock worth $139,000 after buying an additional 580 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Amphastar Pharmaceuticals by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,489 shares of the company's stock worth $652,000 after buying an additional 613 shares in the last quarter. Hedge funds and other institutional investors own 65.09% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America increased their target price on shares of Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. Piper Sandler reduced their target price on shares of Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Finally, Needham & Company LLC upgraded shares of Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating and set a $36.00 target price on the stock in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Amphastar Pharmaceuticals has a consensus rating of "Hold" and an average target price of $31.60.

Amphastar Pharmaceuticals Price Performance

Amphastar Pharmaceuticals stock opened at $28.68 on Friday. The stock has a market cap of $1.33 billion, a P/E ratio of 10.74 and a beta of 0.80. The company has a fifty day simple moving average of $25.66 and a 200-day simple moving average of $25.67. Amphastar Pharmaceuticals, Inc. has a 12-month low of $20.39 and a 12-month high of $53.96. 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 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.

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