Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) fell 3.9% during trading on Thursday after an insider sold shares in the company. The company traded as low as $18.80 and last traded at $18.80, with a volume of 247,611 shares changing hands. The stock had previously closed at $19.57.
Specifically, President Jason B. Shandell sold 5,636 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $18.01, for a total transaction of $101,504.36. Following the completion of the sale, the president now directly owns 208,948 shares in the company, valued at $3,763,153.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William J. Peters sold 2,297 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $17.76, for a total transaction of $40,794.72. Following the sale, the chief financial officer now owns 64,652 shares of the company’s stock, valued at $1,148,219.52. The disclosure for this sale can be found here. Company insiders own 29.30% of the company’s stock.
Several brokerages have issued reports on AMPH. Piper Jaffray Cos. restated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Amphastar Pharmaceuticals in a research report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research report on Wednesday, August 10th. Jefferies Group lifted their price target on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. BMO Capital Markets reiterated a “hold” rating and issued a $17.00 price target on shares of Amphastar Pharmaceuticals in a research report on Tuesday, August 9th. Finally, Needham & Company LLC lifted their price target on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $20.00.
The stock’s 50-day moving average price is $19.16 and its 200 day moving average price is $15.70. The stock has a market cap of $842.86 million, a price-to-earnings ratio of 60.65 and a beta of 1.83.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.22. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The business earned $68 million during the quarter, compared to the consensus estimate of $62.10 million. During the same period in the prior year, the firm posted ($0.09) EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities analysts anticipate that Amphastar Pharmaceuticals Inc. will post $0.37 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Amphastar Pharmaceuticals by 3.8% in the first quarter. State Street Corp now owns 662,582 shares of the company’s stock worth $7,949,000 after buying an additional 24,205 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Amphastar Pharmaceuticals during the first quarter worth about $180,000. UBS Asset Management Americas Inc. increased its stake in shares of Amphastar Pharmaceuticals by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 277,294 shares of the company’s stock worth $3,328,000 after buying an additional 25,095 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Amphastar Pharmaceuticals during the second quarter worth about $3,227,000. Finally, California State Teachers Retirement System increased its stake in shares of Amphastar Pharmaceuticals by 10.8% in the second quarter. California State Teachers Retirement System now owns 74,633 shares of the company’s stock worth $1,203,000 after buying an additional 7,291 shares during the last quarter. 35.87% of the stock is owned by institutional investors and hedge funds.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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