Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock Price Down 6.7% – Should You Sell?

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $19.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Thursday, May 14th. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Friday, May 8th. Barclays lowered their target price on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings cut Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Finally, Bank of America reiterated an “underperform” rating and set a $20.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, June 29th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Amphastar Pharmaceuticals presently has an average rating of “Reduce” and a consensus price target of $22.00.

Amphastar Pharmaceuticals Trading Down 6.2%

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 firm has a market capitalization of $830.93 million, a price-to-earnings ratio of 11.35, a P/E/G ratio of 3.86 and a beta of 0.89. The business has a 50-day moving average of $19.64 and a two-hundred day moving average of $22.56.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.28). The business had revenue of $171.17 million during the quarter, compared to analyst estimates of $173.46 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. Research analysts predict that Amphastar Pharmaceuticals, Inc. will post 2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in shares of Amphastar Pharmaceuticals during the third quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at approximately $32,000. Farther Finance Advisors LLC raised its position in 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 last quarter. GAMMA Investing LLC lifted its holdings in Amphastar Pharmaceuticals by 37.8% during 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Amphastar Pharmaceuticals by 24.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock valued at $60,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

About Amphastar Pharmaceuticals

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.