Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) EVP Diane G. Gerst sold 8,444 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $18.87, for a total value of $159,338.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) opened at 18.94 on Friday. The company’s 50 day moving average price is $16.37 and its 200 day moving average price is $16.12. Amphastar Pharmaceuticals, Inc. has a 52-week low of $12.05 and a 52-week high of $21.75. The company has a market cap of $874.93 million, a P/E ratio of 245.97 and a beta of 1.69.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The firm had revenue of $65.20 million for the quarter, compared to the consensus estimate of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Equities research analysts anticipate that Amphastar Pharmaceuticals, Inc. will post $0.27 EPS for the current fiscal year.
Amphastar Pharmaceuticals announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 9th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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A number of research analysts recently weighed in on the company. Wells Fargo & Company reissued a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Saturday, July 22nd. BMO Capital Markets reissued a “hold” rating and issued a $16.00 price objective on shares of Amphastar Pharmaceuticals in a research note on Monday, July 31st. Piper Jaffray Companies set a $20.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, July 29th. Needham & Company LLC raised their price objective on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, September 27th. Finally, BidaskClub downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Amphastar Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $20.17.
Hedge funds have recently modified their holdings of the business. Sei Investments Co. boosted its holdings in shares of Amphastar Pharmaceuticals by 20,071.0% in the 1st quarter. Sei Investments Co. now owns 103,074 shares of the company’s stock valued at $1,495,000 after purchasing an additional 102,563 shares in the last quarter. Rothschild Asset Management Inc. acquired a new stake in shares of Amphastar Pharmaceuticals in the 1st quarter valued at $9,056,000. Swiss National Bank boosted its holdings in shares of Amphastar Pharmaceuticals by 5.3% in the 1st quarter. Swiss National Bank now owns 59,400 shares of the company’s stock valued at $861,000 after purchasing an additional 3,000 shares in the last quarter. Comerica Bank boosted its holdings in shares of Amphastar Pharmaceuticals by 4.1% in the 1st quarter. Comerica Bank now owns 39,612 shares of the company’s stock valued at $600,000 after purchasing an additional 1,570 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Amphastar Pharmaceuticals in the 1st quarter valued at $215,000. 44.26% of the stock is currently owned by hedge funds and other institutional investors.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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