Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Pass Below Fifty Day Moving Average – Here’s Why

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $19.24 and traded as low as $18.83. Amphastar Pharmaceuticals shares last traded at $19.40, with a volume of 356,067 shares changing hands.

Wall Street Analyst Weigh In

AMPH has been the subject of several research reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $19.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Thursday, May 14th. 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. Barclays decreased 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 report on Wednesday, June 3rd. Piper Sandler reissued a “neutral” rating and issued a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $22.00.

Amphastar Pharmaceuticals Trading Down 0.6%

The stock has a market cap of $870.78 million, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 3.82 and a beta of 0.89. The business has a 50 day simple moving average of $19.16 and a two-hundred day simple moving average of $22.19. The company has a current ratio of 3.85, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.42 EPS 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 the consensus estimate 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 analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Amphastar Pharmaceuticals during the fourth quarter valued at approximately $2,504,000. Denali Advisors LLC lifted its stake in Amphastar Pharmaceuticals by 56.9% in the fourth quarter. Denali Advisors LLC now owns 211,765 shares of the company’s stock valued at $5,671,000 after buying an additional 76,765 shares during the last quarter. Bridge City Capital LLC lifted its stake in Amphastar Pharmaceuticals by 72.8% in the fourth quarter. Bridge City Capital LLC now owns 235,485 shares of the company’s stock valued at $6,306,000 after buying an additional 99,227 shares during the last quarter. TD Asset Management Inc lifted its position in Amphastar Pharmaceuticals by 1.6% in the 4th quarter. TD Asset Management Inc now owns 1,963,052 shares of the company’s stock valued at $52,571,000 after purchasing an additional 31,160 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new position in Amphastar Pharmaceuticals during the 4th quarter valued at about $1,666,000. 65.09% of the stock is owned by institutional investors and hedge funds.

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.