Amphastar Pharmaceuticals, Inc. (AMPH) Director Sells $1,156,684.32 in Stock
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Michael A. Zasloff sold 63,624 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $18.18, for a total value of $1,156,684.32. Following the sale, the director now directly owns 101,879 shares of the company’s stock, valued at approximately $1,852,160.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) traded down 0.75% on Tuesday, reaching $18.55. The company had a trading volume of 259,616 shares. Amphastar Pharmaceuticals, Inc. has a 12-month low of $12.05 and a 12-month high of $21.75. The stock has a market capitalization of $856.92 million, a PE ratio of 240.91 and a beta of 1.69. The stock’s 50 day moving average price is $16.03 and its 200-day moving average price is $16.05.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $65.20 million during the quarter, compared to analyst estimates of $63.40 million. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. Equities analysts expect that Amphastar Pharmaceuticals, Inc. will post $0.27 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals declared that its Board of Directors has authorized a share buyback program on Wednesday, August 9th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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A number of brokerages have weighed in on AMPH. TheStreet upgraded Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. BidaskClub downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Piper Jaffray Companies set a $20.00 price target on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, July 29th. Finally, BMO Capital Markets restated a “hold” rating and issued a $16.00 price objective on shares of Amphastar Pharmaceuticals in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $20.14.
Large investors have recently modified their holdings of the stock. Rothschild Asset Management Inc. purchased a new position in Amphastar Pharmaceuticals during the first quarter valued at $9,056,000. Citadel Advisors LLC lifted its stake in Amphastar Pharmaceuticals by 1,823.3% in the 1st quarter. Citadel Advisors LLC now owns 355,566 shares of the company’s stock worth $5,156,000 after purchasing an additional 337,079 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Amphastar Pharmaceuticals by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock worth $23,786,000 after purchasing an additional 270,654 shares in the last quarter. Vanguard Group Inc. lifted its stake in Amphastar Pharmaceuticals by 10.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock worth $43,128,000 after purchasing an additional 235,033 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Amphastar Pharmaceuticals by 143.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 362,947 shares of the company’s stock worth $6,482,000 after purchasing an additional 213,572 shares in the last quarter. Hedge funds and other institutional investors own 44.26% of the company’s stock.
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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