Stephen B. Shohet Sells 7,862 Shares of Amphastar Pharmaceuticals, Inc. (AMPH) Stock
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Stephen B. Shohet sold 7,862 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $18.37, for a total value of $144,424.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Amphastar Pharmaceuticals, Inc. (NASDAQ AMPH) traded up $0.69 on Friday, reaching $19.12. The company had a trading volume of 323,512 shares, compared to its average volume of 150,997. The company has a current ratio of 3.04, a quick ratio of 1.87 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $855.55 million, a price-to-earnings ratio of 115.75, a price-to-earnings-growth ratio of 8.23 and a beta of 1.68.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The company had revenue of $65.20 million during the quarter, compared to analyst estimates of $63.40 million. During the same period in the previous year, the company earned $0.23 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. sell-side analysts predict that Amphastar Pharmaceuticals, Inc. will post 0.09 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals declared that its Board of Directors has approved a share repurchase program on Wednesday, August 9th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Amphastar Pharmaceuticals by 17.7% during the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock worth $100,000 after buying an additional 842 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Amphastar Pharmaceuticals during the second quarter worth approximately $111,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Amphastar Pharmaceuticals by 3.7% during the first quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock worth $119,000 after buying an additional 290 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Amphastar Pharmaceuticals by 77.2% during the second quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock worth $125,000 after buying an additional 3,072 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Amphastar Pharmaceuticals by 58.2% during the second quarter. BNP Paribas Arbitrage SA now owns 10,545 shares of the company’s stock worth $188,000 after buying an additional 3,880 shares during the last quarter. Institutional investors own 43.99% of the company’s stock.
Several equities research analysts recently weighed in on the company. Jefferies Group LLC set a $19.00 target price on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, October 29th. Piper Jaffray Companies set a $19.00 target price on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. Needham & Company LLC boosted their target price on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, September 27th. Zacks Investment Research lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Finally, ValuEngine lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $20.29.
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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