Pacer Advisors Inc. Buys 171,748 Shares of Amphastar Pharmaceuticals, Inc. $AMPH

Pacer Advisors Inc. raised its stake in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 2,864.4% during the fourth quarter, HoldingsChannel reports. The firm owned 177,744 shares of the company’s stock after buying an additional 171,748 shares during the quarter. Pacer Advisors Inc.’s holdings in Amphastar Pharmaceuticals were worth $4,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter worth approximately $26,000. Quarry LP purchased a new stake in Amphastar Pharmaceuticals during the 3rd quarter valued at $32,000. Farther Finance Advisors LLC lifted 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 worth $37,000 after buying an additional 437 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $45,000 after buying an additional 462 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Amphastar Pharmaceuticals by 24.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock worth $60,000 after buying an additional 435 shares during the period. Hedge funds and other institutional investors own 65.09% of the company’s stock.

Analyst Upgrades and Downgrades

AMPH has been the topic of a number of analyst reports. Piper Sandler reiterated a “neutral” rating and set a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 11th. Barclays dropped their price target on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Jefferies Financial Group reiterated a “hold” rating and set a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Tuesday, April 21st. Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Thursday, May 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amphastar Pharmaceuticals currently has an average rating of “Reduce” and an average price target of $24.00.

Amphastar Pharmaceuticals Trading Down 2.6%

AMPH opened at $18.33 on Tuesday. The stock’s fifty day moving average is $19.92 and its two-hundred day moving average is $23.02. The company has a market capitalization of $808.22 million, a P/E ratio of 11.04, a PEG ratio of 3.70 and a beta of 0.91. Amphastar Pharmaceuticals, Inc. has a 52 week low of $16.65 and a 52 week high of $31.26. The company has a quick ratio of 2.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.79.

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

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.