Amphastar Pharmaceuticals, Inc. $AMPH Stake Decreased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in Amphastar Pharmaceuticals by 10.7%, now owning 2,422,904 shares valued at approximately $70.24 million.
• Several institutional investors have increased their stakes in Amphastar, highlighting a significant interest in the company, which has a total of 65.09% of its stock owned by institutional investors.
• Analysts have mixed ratings on Amphastar Pharmaceuticals, with a consensus price target of $31.50 and two analysts giving a 'buy' rating.

Vanguard Group Inc. reduced its stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,422,904 shares of the company's stock after selling 291,724 shares during the period. Vanguard Group Inc. owned approximately 5.10% of Amphastar Pharmaceuticals worth $70,240,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMPH. Raymond James Financial Inc. acquired a new stake in shares of Amphastar Pharmaceuticals during the fourth quarter valued at about $3,450,000. Barclays PLC grew its stake in shares of Amphastar Pharmaceuticals by 13.9% during the fourth quarter. Barclays PLC now owns 84,790 shares of the company's stock valued at $3,148,000 after acquiring an additional 10,334 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Amphastar Pharmaceuticals by 350.0% during the fourth quarter. First Trust Advisors LP now owns 81,129 shares of the company's stock valued at $3,012,000 after acquiring an additional 63,100 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Amphastar Pharmaceuticals by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,198,590 shares of the company's stock valued at $44,503,000 after acquiring an additional 105,288 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Amphastar Pharmaceuticals by 3.7% during the fourth quarter. MetLife Investment Management LLC now owns 23,452 shares of the company's stock valued at $871,000 after acquiring an additional 845 shares in the last quarter. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals Stock Down 2.0%

Shares of AMPH stock traded down $0.63 during trading hours on Thursday, hitting $29.87. 123,832 shares of the company were exchanged, compared to its average volume of 571,572. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.21 and a current ratio of 3.29. Amphastar Pharmaceuticals, Inc. has a one year low of $20.39 and a one year high of $53.96. The business's 50-day simple moving average is $24.38 and its two-hundred day simple moving average is $25.82. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 11.22 and a beta of 0.76.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company lowered 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. Piper Sandler lowered 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. Bank of America raised their target price on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $30.00 price target (down previously from $45.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 12th. Finally, Needham & Company LLC raised shares of 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. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average 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.