Key Points
- CFO William Peters sold 4,139 Amphastar shares at an average price of $25.00, for proceeds of $103,475. The Rule 10b5-1 transaction reduced his ownership by 2.39% to 168,707 shares.
- Amphastar reported quarterly earnings of $0.91 per share, beating estimates of $0.62, while revenue of $183.9 million exceeded the $179.9 million consensus forecast.
- Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” and an average price target of $22.50, below its reported opening price of $24.96.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) CFO William Peters sold 4,139 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $25.00, for a total value of $103,475.00. Following the transaction, the chief financial officer owned 168,707 shares of the company's stock, valued at $4,217,675. This represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amphastar Pharmaceuticals Price Performance
AMPH stock opened at $24.96 on Thursday. The stock's 50 day moving average price is $21.61 and its 200 day moving average price is $20.44. The firm has a market cap of $1.06 billion, a P/E ratio of 14.77, a PEG ratio of 4.69 and a beta of 0.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.71 and a current ratio of 2.40. Amphastar Pharmaceuticals, Inc. has a 1 year low of $16.65 and a 1 year high of $29.52.
Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.91 earnings per share 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 company had revenue of $183.90 million during the quarter, compared to the consensus estimate of $179.92 million. On average, sell-side analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.46 earnings per share for the current fiscal year.
Institutional Trading of Amphastar Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new stake in Amphastar Pharmaceuticals in the 2nd quarter valued at about $609,000. Squarepoint Ops LLC boosted its position in shares of Amphastar Pharmaceuticals by 178.0% in the second quarter. Squarepoint Ops LLC now owns 78,795 shares of the company's stock worth $1,590,000 after acquiring an additional 50,450 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the second quarter worth approximately $3,286,000. Bank of America Corp DE acquired a new stake in shares of Amphastar Pharmaceuticals in the second quarter worth approximately $2,761,000. Finally, Man Group plc purchased a new stake in Amphastar Pharmaceuticals in the second quarter valued at approximately $350,000. 65.09% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Wall Street Zen cut Amphastar Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Weiss Ratings restated a "sell (d+)" rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, July 8th. Zacks Research raised shares of Amphastar Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 21st. Barclays raised their target price on shares of Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 18th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $20.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, June 29th. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $22.50.
Check Out Our Latest Analysis on Amphastar Pharmaceuticals
Amphastar Pharmaceuticals Company Profile
(
Get Free Report)
Amphastar Pharmaceuticals, Inc is a biopharmaceutical company that develops, manufactures and markets injectable, inhaled and intranasal products. The company focuses on complex and technically challenging medicines, including products for diabetes, emergency medicine, respiratory conditions and other specialty-care applications.
Its marketed products include glucagon for treating severe hypoglycemia, BAQSIMI nasal glucagon, Primatene MIST for temporary relief of mild intermittent asthma symptoms, naloxone products for opioid overdose emergencies, and enoxaparin sodium injection, an anticoagulant.
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].
