Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Stephen B. Shohet sold 7,862 shares of the company’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $18.34, for a total value of $144,189.08. Following the completion of the sale, the director now owns 31,978 shares in the company, valued at approximately $586,476.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) remained flat at $18.41 during mid-day trading on Friday. The stock had a trading volume of 126,448 shares. Amphastar Pharmaceuticals, Inc. has a 52-week low of $12.05 and a 52-week high of $21.75. The stock has a market capitalization of $850.45 million, a PE ratio of 239.09 and a beta of 1.69. The stock has a 50 day moving average of $17.58 and a 200 day moving average of $16.58.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The firm had revenue of $65.20 million during the quarter, compared to analysts’ expectations of $63.40 million. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. Equities research analysts forecast that Amphastar Pharmaceuticals, Inc. will post $0.27 EPS for the current fiscal year.
Amphastar Pharmaceuticals declared that its board has authorized a stock buyback plan on Wednesday, August 9th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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A number of brokerages have commented on AMPH. Piper Jaffray Companies set a $19.00 price target on Amphastar Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $19.00 price target (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a report on Friday, August 11th. Zacks Investment Research cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Needham & Company LLC raised their target price on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, September 27th. Finally, ValuEngine lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $20.29.
Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in shares of Amphastar Pharmaceuticals by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock valued at $100,000 after buying an additional 842 shares during the period. SG Americas Securities LLC acquired a new position in shares of Amphastar Pharmaceuticals in the second quarter valued at approximately $111,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Amphastar Pharmaceuticals by 3.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock valued at $119,000 after buying an additional 290 shares during the period. Mason Street Advisors LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 7.0% in the first quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock valued at $122,000 after buying an additional 549 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Amphastar Pharmaceuticals by 77.2% in the second quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock valued at $125,000 after buying an additional 3,072 shares during the period. Institutional investors own 44.04% of the company’s stock.
Amphastar Pharmaceuticals Company Profile
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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