Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Down 8.8% – Here’s What Happened

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) fell 8.8% during trading on Monday . The stock traded as low as $20.15 and last traded at $19.8550. Approximately 100,318 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 548,144 shares. The stock had previously closed at $21.78.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AMPH shares. Wells Fargo & Company restated an “equal weight” rating and set a $19.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Thursday, May 14th. Piper Sandler reissued a “neutral” rating and issued a $21.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Bank of America restated an “underperform” rating and issued a $20.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday. Barclays decreased their price target on Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Finally, Zacks Research downgraded Amphastar Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $22.00.

Amphastar Pharmaceuticals Trading Down 5.7%

The company has a quick ratio of 2.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $905.89 million, a PE ratio of 12.39, a PEG ratio of 4.28 and a beta of 0.91. The business’s 50-day moving average is $19.89 and its two-hundred day moving average is $22.85.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.28). Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%.The firm had revenue of $171.17 million for the quarter, compared to analysts’ expectations of $173.46 million. On average, analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Amphastar Pharmaceuticals by 47.1% during the first quarter. Pacer Advisors Inc. now owns 261,483 shares of the company’s stock worth $5,122,000 after acquiring an additional 83,739 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in Amphastar Pharmaceuticals by 197.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 33,318 shares of the company’s stock valued at $653,000 after purchasing an additional 22,133 shares during the last quarter. Bank of America Corp DE raised its position in Amphastar Pharmaceuticals by 36.0% in the 1st quarter. Bank of America Corp DE now owns 174,323 shares of the company’s stock valued at $3,415,000 after purchasing an additional 46,149 shares during the last quarter. Empowered Funds LLC boosted its stake in Amphastar Pharmaceuticals by 9.3% during the 1st quarter. Empowered Funds LLC now owns 181,332 shares of the company’s stock worth $3,552,000 after purchasing an additional 15,425 shares during the period. Finally, Rice Hall James & Associates LLC boosted its stake in Amphastar Pharmaceuticals by 54.6% during the 1st quarter. Rice Hall James & Associates LLC now owns 187,348 shares of the company’s stock worth $3,670,000 after purchasing an additional 66,172 shares during the period. Hedge funds and other institutional investors own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.