Amphastar Pharmaceuticals, Inc. (AMPH) Director Sells $74,000.00 in Stock
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Richard K. Prins sold 5,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $14.80, for a total value of $74,000.00. Following the completion of the sale, the director now owns 33,844 shares of the company’s stock, valued at $500,891.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Amphastar Pharmaceuticals, Inc. (AMPH) traded up 0.61% during mid-day trading on Wednesday, reaching $14.89. The company’s stock had a trading volume of 119,418 shares. Amphastar Pharmaceuticals, Inc. has a 1-year low of $12.05 and a 1-year high of $21.75. The company’s 50-day moving average is $17.01 and its 200 day moving average is $15.90. The firm has a market capitalization of $687.84 million, a P/E ratio of 193.38 and a beta of 1.65.
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. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The firm had revenue of $65.20 million for the quarter, compared to analysts’ expectations of $63.40 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts expect that Amphastar Pharmaceuticals, Inc. will post $0.27 earnings per share for the current year.
Amphastar Pharmaceuticals declared that its Board of Directors has authorized a share buyback plan on Wednesday, August 9th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Rothschild Asset Management Inc. purchased a new position in shares of Amphastar Pharmaceuticals during the first quarter worth $9,056,000. Citadel Advisors LLC boosted its position in shares of Amphastar Pharmaceuticals by 1,823.3% in the first quarter. Citadel Advisors LLC now owns 355,566 shares of the company’s stock worth $5,156,000 after buying an additional 337,079 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amphastar Pharmaceuticals by 68.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 800,900 shares of the company’s stock worth $14,753,000 after buying an additional 324,043 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Amphastar Pharmaceuticals by 10.8% in the second quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock worth $43,128,000 after buying an additional 235,033 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Amphastar Pharmaceuticals by 143.0% in the second quarter. UBS Asset Management Americas Inc. now owns 362,947 shares of the company’s stock worth $6,482,000 after buying an additional 213,572 shares during the last quarter. Hedge funds and other institutional investors own 43.83% of the company’s stock.
Several brokerages have issued reports on AMPH. Piper Jaffray Companies set a $19.00 target price on Amphastar Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $19.00 target price (down from $20.00) on shares of Amphastar Pharmaceuticals in a report on Friday, August 11th. BidaskClub cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 11th. BMO Capital Markets restated a “hold” rating and issued a $16.00 target price on shares of Amphastar Pharmaceuticals in a report on Monday, July 31st. Finally, Wells Fargo & Company restated a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.86.
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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