Smith Asset Management Group LP cut its stake in shares of Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) by 89.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,760 shares of the company’s stock after selling 102,650 shares during the period. Smith Asset Management Group LP’s holdings in Amphastar Pharmaceuticals were worth $190,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. bought a new position in Amphastar Pharmaceuticals during the first quarter valued at about $180,000. Teachers Advisors Inc. increased its position in Amphastar Pharmaceuticals by 18.8% in the first quarter. Teachers Advisors Inc. now owns 492,136 shares of the company’s stock valued at $5,906,000 after buying an additional 77,910 shares in the last quarter. Menta Capital LLC bought a new position in Amphastar Pharmaceuticals during the first quarter valued at about $533,000. State Street Corp increased its position in Amphastar Pharmaceuticals by 3.8% in the first quarter. State Street Corp now owns 662,582 shares of the company’s stock valued at $7,949,000 after buying an additional 24,205 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Amphastar Pharmaceuticals by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 277,294 shares of the company’s stock valued at $3,328,000 after buying an additional 25,095 shares in the last quarter. Institutional investors own 35.87% of the company’s stock.
Shares of Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) traded down 1.71% during midday trading on Wednesday, reaching $19.57. 385,277 shares of the company were exchanged. The stock has a market capitalization of $883.02 million, a price-to-earnings ratio of 63.54 and a beta of 1.83. Amphastar Pharmaceuticals Inc. has a 52-week low of $10.50 and a 52-week high of $21.53. The company’s 50-day moving average price is $19.16 and its 200 day moving average price is $15.70.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.22. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The firm had revenue of $68 million for the quarter, compared to analyst estimates of $62.10 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. On average, equities analysts predict that Amphastar Pharmaceuticals Inc. will post $0.37 earnings per share for the current year.
Several equities analysts have issued reports on AMPH shares. BMO Capital Markets started coverage on shares of Amphastar Pharmaceuticals in a research note on Tuesday, June 28th. They issued a “market perform” rating and a $17.00 price objective for the company. Zacks Investment Research downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Needham & Company LLC upped their price objective on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Jefferies Group increased their target price on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $22.00 target price on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 11th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Amphastar Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $20.00.
In other Amphastar Pharmaceuticals news, CEO Jack Y. Zhang sold 444,199 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $21.03, for a total value of $9,341,504.97. Following the transaction, the chief executive officer now owns 1,295,685 shares in the company, valued at approximately $27,248,255.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jason B. Shandell sold 10,000 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $19.95, for a total transaction of $199,500.00. Following the completion of the transaction, the general counsel now owns 212,961 shares in the company, valued at approximately $4,248,571.95. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by company insiders.
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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