Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target Lowered to $30.00 at Needham & Company LLC

Amphastar Pharmaceuticals (NASDAQ:AMPHGet Free Report) had its target price decreased by investment analysts at Needham & Company LLC from $34.00 to $30.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 13.25% from the stock’s previous close.

AMPH has been the subject of a number of other reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research note on Monday, December 29th. Zacks Research lowered shares of Amphastar Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Barclays started coverage on shares of Amphastar Pharmaceuticals in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.33.

Read Our Latest Stock Analysis on AMPH

Amphastar Pharmaceuticals Trading Down 5.3%

Amphastar Pharmaceuticals stock opened at $26.49 on Friday. Amphastar Pharmaceuticals has a 52-week low of $20.39 and a 52-week high of $31.70. The company has a market cap of $1.22 billion, a P/E ratio of 11.72, a P/E/G ratio of 5.10 and a beta of 0.88. The company has a quick ratio of 2.21, a current ratio of 3.12 and a debt-to-equity ratio of 0.78. The business has a 50-day simple moving average of $27.36 and a two-hundred day simple moving average of $27.06.

Insiders Place Their Bets

In other Amphastar Pharmaceuticals news, Director Floyd F. Petersen sold 2,426 shares of Amphastar Pharmaceuticals stock in a transaction on Friday, December 12th. The shares were sold at an average price of $25.92, for a total value of $62,881.92. Following the completion of the transaction, the director directly owned 71,368 shares of the company’s stock, valued at $1,849,858.56. This trade represents a 3.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rong Zhou sold 9,787 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $26.20, for a total transaction of $256,419.40. Following the completion of the transaction, the executive vice president directly owned 138,043 shares of the company’s stock, valued at approximately $3,616,726.60. The trade was a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,950 shares of company stock valued at $363,925. 27.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its stake in Amphastar Pharmaceuticals by 356.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 944 shares of the company’s stock worth $25,000 after acquiring an additional 737 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at approximately $26,000. Global Retirement Partners LLC grew its stake in Amphastar Pharmaceuticals by 219.0% in 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 in the last quarter. Hantz Financial Services Inc. grew its stake in Amphastar Pharmaceuticals by 3,430.8% in the second quarter. Hantz Financial Services Inc. now owns 1,377 shares of the company’s stock worth $32,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Quarry LP purchased a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 65.09% of the company’s stock.

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About Amphastar Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Amphastar Pharmaceuticals (NASDAQ:AMPH)

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