Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Down 6.7% – Here’s Why

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price dropped 6.7% on Wednesday . The stock traded as low as $18.52 and last traded at $18.7380. 155,142 shares traded hands during trading, a decline of 71% from the average session volume of 544,074 shares. The stock had previously closed at $20.08.

Wall Street Analyst Weigh In

AMPH has been the subject of several recent research reports. Jefferies Financial Group reissued a “hold” rating and issued a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, April 21st. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Friday, May 8th. Barclays cut their target price on Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Bank of America reaffirmed an “underperform” rating and issued a $20.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, June 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $22.00.

Amphastar Pharmaceuticals Trading Down 1.2%

The firm’s 50-day moving average price is $19.53 and its 200-day moving average price is $22.45. 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 company has a market cap of $828.45 million, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 3.71 and a beta of 0.89.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted 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). The company had revenue of $171.17 million for the quarter, compared to analysts’ expectations of $173.46 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. As a group, equities research analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Amphastar Pharmaceuticals by 24.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock valued at $60,000 after acquiring an additional 435 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Amphastar Pharmaceuticals by 46.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock worth $37,000 after purchasing an additional 437 shares during the period. ProShare Advisors LLC boosted its position in Amphastar Pharmaceuticals by 5.3% during the 4th quarter. ProShare Advisors LLC now owns 9,083 shares of the company’s stock valued at $243,000 after acquiring an additional 457 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Amphastar Pharmaceuticals by 2.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 19,397 shares of the company’s stock valued at $478,000 after purchasing an additional 459 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Amphastar Pharmaceuticals by 37.8% in the 4th 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 period. 65.09% of the stock is currently owned by institutional investors.

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.