Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH – Get Free Report) CFO William Peters sold 16,000 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $28.03, for a total value of $448,480.00. Following the transaction, the chief financial officer directly owned 168,707 shares of the company’s stock, valued at $4,728,857.21. This trade represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amphastar Pharmaceuticals Stock Up 3.0%
Shares of NASDAQ:AMPH opened at $28.49 on Friday. The business has a fifty day simple moving average of $25.35 and a 200 day simple moving average of $22.33. Amphastar Pharmaceuticals, Inc. has a 12-month low of $16.65 and a 12-month high of $31.00. The firm has a market cap of $1.21 billion, a P/E ratio of 13.01, a P/E/G 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 issued its quarterly earnings data on Thursday, November 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.28. The business had revenue of $207.61 million for the quarter, compared to analysts’ expectations of $197.52 million. Amphastar Pharmaceuticals had a return on equity of 14.98% and a net margin of 10.76%. Analysts predict that Amphastar Pharmaceuticals, Inc. will post 2.43 earnings per share for the current year.
Key Amphastar Pharmaceuticals News
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
Analysts Set New Price Targets
Several brokerages have commented on AMPH. Zacks Research upgraded Amphastar Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Wall Street Zen cut Amphastar Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 1st. Barclays raised their target price on shares of Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Wells Fargo & Company upped their price objective on shares of Amphastar Pharmaceuticals from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Piper Sandler lowered their target price on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $23.33.
View Our Latest Stock Analysis on AMPH
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC lifted its holdings in Amphastar Pharmaceuticals by 5.6% in the 3rd quarter. Hohimer Wealth Management LLC now owns 13,867 shares of the company’s stock worth $358,000 after purchasing an additional 739 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Amphastar Pharmaceuticals by 10.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,762 shares of the company’s stock valued at $207,000 after purchasing an additional 745 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 183.3% in the third quarter. Nisa Investment Advisors LLC now owns 1,422 shares of the company’s stock valued at $37,000 after purchasing an additional 920 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Amphastar Pharmaceuticals by 1.0% in the first quarter. Bessemer Group Inc. now owns 122,046 shares of the company’s stock valued at $2,391,000 after purchasing an additional 1,156 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 65.09% of the company’s stock.
Amphastar Pharmaceuticals Company Profile
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.
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