Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 3,368,202 shares, a growth of 81.3% from the September 15th total of 1,858,106 shares. Based on an average daily volume of 1,414,810 shares, the short-interest ratio is presently 2.4 days. Approximately 9.8% of the shares of the stock are sold short.
In other news, EVP Diane G. Gerst sold 24,046 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $19.28, for a total value of $463,606.88. Following the transaction, the executive vice president now owns 39,031 shares of the company’s stock, valued at approximately $752,517.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Y. Zhang sold 444,199 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $21.03, for a total transaction of $9,341,504.97. Following the completion of the transaction, the chief executive officer now directly owns 1,295,685 shares in the company, valued at approximately $27,248,255.55. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AMPH. Atria Investments LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the third quarter valued at $190,000. Creative Planning boosted its stake in shares of Amphastar Pharmaceuticals by 270.6% in the third quarter. Creative Planning now owns 96,154 shares of the company’s stock valued at $1,824,000 after buying an additional 70,206 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the third quarter valued at $603,000. Simplex Trading LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the third quarter valued at $277,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Amphastar Pharmaceuticals by 37.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 72,893 shares of the company’s stock valued at $1,176,000 after buying an additional 19,767 shares in the last quarter. Institutional investors and hedge funds own 35.80% of the company’s stock.
Several brokerages have recently issued reports on AMPH. Jefferies Group raised their target price on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. BMO Capital Markets reiterated a “hold” rating and issued a $17.00 target price on shares of Amphastar Pharmaceuticals in a report on Tuesday, August 9th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Amphastar Pharmaceuticals in a 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 target price for the company in a report on Wednesday, August 10th. Finally, Needham & Company LLC raised their target price on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $20.00.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 18.15 on Wednesday. Amphastar Pharmaceuticals has a 12-month low of $10.50 and a 12-month high of $21.53. The firm has a market capitalization of $818.95 million, a PE ratio of 58.93 and a beta of 1.83. The company’s 50 day moving average is $19.10 and its 200 day moving average is $16.40.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The business had revenue of $68 million for the quarter, compared to the consensus estimate of $62.10 million. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, analysts forecast that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current year.
Amphastar Pharmaceuticals Company Profile
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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