Amphastar Pharmaceuticals (NASDAQ:AMPH) Receives New Coverage from Analysts at Bank of America

Bank of America initiated coverage on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a research note published on Friday morning, MarketBeat.com reports. The firm issued a neutral rating and a $63.00 target price on the stock.

AMPH has been the topic of several other reports. StockNews.com upgraded shares of Amphastar Pharmaceuticals from a hold rating to a buy rating in a report on Monday, November 13th. Jefferies Financial Group initiated coverage on shares of Amphastar Pharmaceuticals in a report on Tuesday, July 25th. They set a buy rating and a $70.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Amphastar Pharmaceuticals from $66.00 to $71.00 in a report on Wednesday, August 9th.

Amphastar Pharmaceuticals Trading Up 1.3 %

NASDAQ AMPH opened at $56.59 on Friday. Amphastar Pharmaceuticals has a twelve month low of $27.58 and a twelve month high of $67.66. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.68 and a current ratio of 2.11. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 22.11 and a beta of 0.87. The firm’s 50 day moving average price is $47.51 and its two-hundred day moving average price is $50.81.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 4,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $55.86, for a total transaction of $223,440.00. Following the completion of the transaction, the director now owns 31,895 shares of the company’s stock, valued at approximately $1,781,654.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 5,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $52.50, for a total transaction of $262,500.00. Following the completion of the transaction, the director now owns 35,895 shares of the company’s stock, valued at approximately $1,884,487.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard K. Prins sold 4,000 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $55.86, for a total transaction of $223,440.00. Following the transaction, the director now directly owns 31,895 shares of the company’s stock, valued at approximately $1,781,654.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,559 shares of company stock worth $5,205,924. Corporate insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMPH. Price T Rowe Associates Inc. MD raised its position in shares of Amphastar Pharmaceuticals by 396.7% during the third quarter. Price T Rowe Associates Inc. MD now owns 808,731 shares of the company’s stock valued at $22,727,000 after buying an additional 645,917 shares during the last quarter. Granite Investment Partners LLC acquired a new position in shares of Amphastar Pharmaceuticals in the 1st quarter worth approximately $20,131,000. Bank of America Corp DE grew its position in Amphastar Pharmaceuticals by 347.2% during the 1st quarter. Bank of America Corp DE now owns 290,737 shares of the company’s stock worth $10,903,000 after acquiring an additional 225,728 shares during the last quarter. State Street Corp increased its holdings in Amphastar Pharmaceuticals by 16.6% during the 2nd quarter. State Street Corp now owns 1,540,846 shares of the company’s stock valued at $53,606,000 after purchasing an additional 218,895 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Amphastar Pharmaceuticals by 183.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 329,843 shares of the company’s stock valued at $11,475,000 after purchasing an additional 213,355 shares during the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

About Amphastar Pharmaceuticals

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. The company operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredient (API).