Key Points
- Floyd Petersen sold 16,679 shares on Nov. 13 at an average price of $26.49 for about $441,826.71, cutting his stake by 18.09% to 75,531 shares; the sale was reported in an SEC Form 4 filing.
- Amphastar recently beat Q3 estimates, reporting EPS of $0.93 versus $0.83 and revenue of $191.84M versus $186.90M, while analysts hold an average "Moderate Buy" rating with a $31.20 target and the stock trades at a P/E of ~9.8 and a $1.2B market cap.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) Director Floyd Petersen sold 16,679 shares of the business's stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $26.49, for a total transaction of $441,826.71. Following the sale, the director directly owned 75,531 shares of the company's stock, valued at approximately $2,000,816.19. This represents a 18.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Amphastar Pharmaceuticals Price Performance
NASDAQ AMPH opened at $26.02 on Tuesday. The company has a 50-day moving average price of $25.85 and a two-hundred day moving average price of $25.39. Amphastar Pharmaceuticals, Inc. has a 52 week low of $20.39 and a 52 week high of $46.43. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 9.75 and a beta of 0.77. The company has a current ratio of 3.29, a quick ratio of 2.21 and a debt-to-equity ratio of 0.80.
Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.10. Amphastar Pharmaceuticals had a return on equity of 20.76% and a net margin of 18.64%.The business had revenue of $191.84 million during the quarter, compared to the consensus estimate of $186.90 million. Analysts forecast that Amphastar Pharmaceuticals, Inc. will post 3.49 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Bank of America increased their price target on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Needham & Company LLC reduced their price objective on shares of Amphastar Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating for the company in a report on Friday, November 7th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, October 8th. Piper Sandler dropped their price target on shares of Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. Finally, Zacks Research raised shares of Amphastar Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.20.
Check Out Our Latest Stock Analysis on AMPH
Hedge Funds Weigh In On Amphastar Pharmaceuticals
Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC lifted its stake in Amphastar Pharmaceuticals by 238.5% during the first quarter. Millennium Management LLC now owns 868,551 shares of the company's stock valued at $25,179,000 after purchasing an additional 611,995 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Amphastar Pharmaceuticals by 20.2% in the first quarter. TD Asset Management Inc now owns 2,212,142 shares of the company's stock valued at $64,130,000 after buying an additional 371,856 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Amphastar Pharmaceuticals by 382.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 392,310 shares of the company's stock valued at $10,455,000 after acquiring an additional 311,071 shares during the last quarter. Clark Capital Management Group Inc. acquired a new stake in shares of Amphastar Pharmaceuticals during the 3rd quarter valued at $7,560,000. Finally, Algert Global LLC boosted its stake in shares of Amphastar Pharmaceuticals by 216.1% during the 3rd quarter. Algert Global LLC now owns 392,902 shares of the company's stock worth $10,471,000 after acquiring an additional 268,612 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company's stock.
About Amphastar Pharmaceuticals
(
Get Free Report)
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. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.
Further Reading
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