Amphastar Pharmaceuticals Inc. (AMPH) Stock Price Down 3.9% Following Insider Selling
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH)’s share price was down 3.9% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $18.80 and last traded at $18.80, with a volume of 247,611 shares. The stock had previously closed at $19.57.
Specifically, CEO Jack Y. Zhang sold 444,199 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $21.03, for a total transaction of $9,341,504.97. Following the completion of the sale, the chief executive officer now directly owns 1,295,685 shares of the company’s stock, valued at approximately $27,248,255.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William J. Peters sold 2,297 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $17.76, for a total value of $40,794.72. Following the sale, the chief financial officer now directly owns 64,652 shares of the company’s stock, valued at $1,148,219.52. The disclosure for this sale can be found here. Company insiders own 29.30% of the company’s stock.
Several analysts have commented on AMPH shares. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Amphastar Pharmaceuticals in a research note on Wednesday, September 7th. Zacks Investment Research downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Needham & Company LLC upped their price objective on Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. BMO Capital Markets initiated coverage on Amphastar Pharmaceuticals in a research note on Tuesday, June 28th. They set a “market perform” rating and a $17.00 target price for the company. Finally, Jefferies Group increased their target price on Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Amphastar Pharmaceuticals has an average rating of “Buy” and a consensus target price of $20.00.
The firm has a 50 day moving average price of $19.18 and a 200-day moving average price of $15.72. The stock has a market cap of $850.08 million, a price-to-earnings ratio of 61.17 and a beta of 1.83.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its earnings results on Monday, August 8th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.22. The business had revenue of $68 million for the quarter, compared to analysts’ expectations of $62.10 million. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. On average, equities analysts expect that Amphastar Pharmaceuticals Inc. will post $0.37 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Amphastar Pharmaceuticals by 57.5% in the second quarter. Acrospire Investment Management LLC now owns 6,791 shares of the company’s stock worth $109,000 after buying an additional 2,479 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Amphastar Pharmaceuticals during the first quarter worth $115,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Amphastar Pharmaceuticals during the first quarter worth $180,000. C M Bidwell & Associates Ltd. acquired a new stake in Amphastar Pharmaceuticals during the second quarter worth $207,000. Finally, Bank of Montreal Can acquired a new stake in Amphastar Pharmaceuticals during the second quarter worth $292,000. 35.87% of the stock is currently owned by institutional investors and hedge funds.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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