Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 1-Year Low – What’s Next?

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $16.75 and last traded at $16.9050, with a volume of 171747 shares trading hands. The stock had previously closed at $17.30.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMPH shares. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Thursday. Weiss Ratings cut Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Finally, Jefferies Financial Group restated a “hold” rating and set a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amphastar Pharmaceuticals has an average rating of “Reduce” and a consensus price target of $24.50.

Amphastar Pharmaceuticals Stock Performance

The stock has a fifty day simple moving average of $20.30 and a 200-day simple moving average of $24.35. The stock has a market cap of $747.94 million, a P/E ratio of 10.22, a PEG ratio of 2.97 and a beta of 0.97. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.28). The firm had revenue of $171.17 million during the quarter, compared to the consensus estimate of $173.46 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. On average, equities analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.93 earnings per share for the current year.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at approximately $26,000. Global Retirement Partners LLC boosted its holdings in Amphastar Pharmaceuticals by 219.0% during the third quarter. Global Retirement Partners LLC now owns 1,024 shares of the company’s stock worth $27,000 after purchasing an additional 703 shares during the last quarter. Quarry LP acquired a new position in Amphastar Pharmaceuticals during the third quarter worth $32,000. Farther Finance Advisors LLC grew its position in Amphastar Pharmaceuticals by 46.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock valued at $37,000 after purchasing an additional 437 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Amphastar Pharmaceuticals by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock valued at $45,000 after purchasing an additional 462 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

About Amphastar Pharmaceuticals

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.