Key Points
- Amphastar EVP Rong Zhou sold 3,187 shares at an average price of $23.63, generating $75,308.81. The sale reduced Zhou’s holdings by 1.85% to 169,203 shares.
- Amphastar reported quarterly EPS of $0.91, beating expectations of $0.62, while revenue of $183.9 million also exceeded analyst estimates.
- Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $22.50 price target, despite 65.09% institutional ownership and recent purchases by several investment firms.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) EVP Rong Zhou sold 3,187 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $23.63, for a total value of $75,308.81. Following the transaction, the executive vice president owned 169,203 shares of the company's stock, valued at approximately $3,998,266.89. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Amphastar Pharmaceuticals Price Performance
AMPH stock opened at $23.84 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.71 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1.01 billion, a PE ratio of 14.11, a P/E/G ratio of 4.57 and a beta of 0.92. Amphastar Pharmaceuticals, Inc. has a 12-month low of $16.65 and a 12-month high of $29.78. The business's fifty day moving average price is $20.48 and its 200 day moving average price is $20.59.
Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.29. Amphastar Pharmaceuticals had a return on equity of 14.98% and a net margin of 10.76%.The firm had revenue of $183.90 million for the quarter, compared to analyst estimates of $179.92 million. On average, sell-side analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.46 EPS for the current year.
Hedge Funds Weigh In On Amphastar Pharmaceuticals
Institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in shares of Amphastar Pharmaceuticals by 2,477.9% during the second quarter. California State Teachers Retirement System now owns 729,527 shares of the company's stock worth $14,722,000 after buying an additional 701,228 shares during the period. Empowered Funds LLC purchased a new position in Amphastar Pharmaceuticals in the second quarter worth approximately $3,286,000. Bank of America Corp DE purchased a new position in Amphastar Pharmaceuticals in the second quarter worth approximately $2,761,000. Man Group plc acquired a new position in Amphastar Pharmaceuticals during the 2nd quarter worth approximately $350,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at approximately $340,000. 65.09% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on AMPH shares. Needham & Company LLC reissued a "hold" rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Wall Street Zen raised shares of Amphastar Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Piper Sandler reduced their target price on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Bank of America reissued an "underperform" rating and issued a $20.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, June 29th. Finally, Wells Fargo & Company boosted their price target on shares of Amphastar Pharmaceuticals from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $22.50.
Check Out Our Latest Research Report on AMPH
Amphastar Pharmaceuticals Company Profile
(
Get Free Report)
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company's manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.
Amphastar's portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
