Wells Fargo & Company Lowers Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target to $35.00

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its target price trimmed by Wells Fargo & Company from $40.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut their price objective on shares of Amphastar Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Thursday, April 10th.

Amphastar Pharmaceuticals Stock Performance

Shares of NASDAQ AMPH opened at $24.11 on Thursday. The stock has a 50 day simple moving average of $25.83 and a 200-day simple moving average of $34.76. The company has a current ratio of 3.43, a quick ratio of 2.61 and a debt-to-equity ratio of 0.82. The company has a market cap of $1.15 billion, a PE ratio of 8.04, a P/E/G ratio of 2.19 and a beta of 0.78. Amphastar Pharmaceuticals has a 12-month low of $22.64 and a 12-month high of $53.96.

Insider Activity

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 4,231 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.54, for a total value of $116,521.74. Following the sale, the chief financial officer now directly owns 97,363 shares in the company, valued at approximately $2,681,377.02. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 5,231 shares of company stock worth $142,752 over the last 90 days. 27.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in Amphastar Pharmaceuticals by 147.7% during the first quarter. Signaturefd LLC now owns 872 shares of the company’s stock worth $25,000 after buying an additional 520 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Amphastar Pharmaceuticals by 222.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 715 shares of the company’s stock worth $26,000 after purchasing an additional 493 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Amphastar Pharmaceuticals in the first quarter worth about $34,000. Parkside Financial Bank & Trust lifted its position in shares of Amphastar Pharmaceuticals by 806.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 979 shares of the company’s stock valued at $36,000 after acquiring an additional 871 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Amphastar Pharmaceuticals in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.