Key Points
- Amphastar CFO William Peters sold 12,631 shares at an average of $28.99, worth about $366,173; the sale was made under a pre-arranged Rule 10b5-1 plan.
- After the transaction, Peters retained 167,076 shares, a 7.03% reduction in his holdings.
- Amphastar reported quarterly adjusted EPS of $1.14 and revenue of $207.6 million, both above analyst expectations.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) CFO William Peters sold 12,631 shares of the company's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $28.99, for a total transaction of $366,172.69. Following the completion of the transaction, the chief financial officer owned 167,076 shares in the company, valued at approximately $4,843,533.24. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amphastar Pharmaceuticals Stock Performance
Shares of AMPH stock opened at $28.49 on Friday. Amphastar Pharmaceuticals, Inc. has a 52 week low of $16.65 and a 52 week high of $31.00. The stock has a fifty day moving average of $25.35 and a 200 day moving average of $22.33. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 5.27 and a beta of 0.93. The company has a quick ratio of 1.71, a current ratio of 2.40 and a debt-to-equity ratio of 0.79.
Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.28. Amphastar Pharmaceuticals had a return on equity of 14.98% and a net margin of 10.76%. The firm had revenue of $207.61 million during the quarter, compared to analysts' expectations of $197.52 million. As a group, research analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.43 earnings per share for the current year.
Amphastar Pharmaceuticals News Roundup
Here are the key news stories impacting Amphastar Pharmaceuticals this week:
- Positive Sentiment: Amphastar reported adjusted third-quarter earnings of $1.14 per share, ahead of analyst estimates of $0.78–$0.86 and up from $0.93 a year earlier. Revenue of $207.6 million also topped estimates of $197.52 million. The earnings and revenue beats are the clearest positive catalysts in the recent news. Company earnings release
- Positive Sentiment: GAAP net income was $37.8 million, or $0.87 per share; adjusted non-GAAP net income was $49.3 million, or $1.14 per share. The results suggest solid quarterly profitability alongside the sales growth. Quarterly results
- Negative Sentiment: Wells Fargo raised its price target from $20 to $25 but kept an “equal weight” rating. The new target remains about 12.2% below the cited current price, which may temper enthusiasm despite the improved target. Wells Fargo price target update
Wall Street Analyst Weigh In
AMPH has been the subject of several analyst reports. Weiss Ratings upgraded Amphastar Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday. Piper Sandler cut their target price on Amphastar Pharmaceuticals from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, August 7th. Wall Street Zen downgraded Amphastar Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 1st. Wells Fargo & Company boosted their target price on Amphastar Pharmaceuticals from $20.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Barclays boosted their price objective 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. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Amphastar Pharmaceuticals presently has an average rating of "Reduce" and an average price target of $23.33.
Get Our Latest Report on AMPH
Institutional Trading of Amphastar Pharmaceuticals
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Amphastar Pharmaceuticals by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,027,947 shares of the company's stock valued at $39,726,000 after buying an additional 228,262 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Amphastar Pharmaceuticals by 1.7% in the first quarter. Renaissance Technologies LLC now owns 553,900 shares of the company's stock valued at $10,851,000 after purchasing an additional 9,200 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Amphastar Pharmaceuticals by 4.0% during the 1st quarter. Systematic Financial Management LP now owns 452,898 shares of the company's stock valued at $8,872,000 after acquiring an additional 17,318 shares during the last quarter. Bridge City Capital LLC increased its position in shares of Amphastar Pharmaceuticals by 13.3% during the 3rd quarter. Bridge City Capital LLC now owns 383,901 shares of the company's stock valued at $9,908,000 after purchasing an additional 45,193 shares during the last quarter. Finally, Denali Advisors LLC lifted its position in Amphastar Pharmaceuticals by 41.1% in the second quarter. Denali Advisors LLC now owns 375,965 shares of the company's stock valued at $7,587,000 after purchasing an additional 109,500 shares during the last quarter. Institutional investors own 65.09% of the company's stock.
About Amphastar Pharmaceuticals
(
Get Free Report)
Amphastar Pharmaceuticals, Inc is a biopharmaceutical company that develops, manufactures and markets injectable, inhalation and intranasal products. The company focuses on technically challenging medicines, including complex generics, proprietary products and products based on its drug-delivery technologies.
Its product portfolio includes Primatene MIST, an over-the-counter epinephrine inhaler; Baqsimi, a nasal glucagon product used to treat severe hypoglycemia; and injectable medicines such as glucagon, naloxone, enoxaparin and hyaluronidase.
Further Reading
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