State Street Corp Acquires 106,448 Shares of Amphastar Pharmaceuticals, Inc. (AMPH)
State Street Corp raised its position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 11.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,062,439 shares of the company’s stock after buying an additional 106,448 shares during the period. State Street Corp owned about 2.31% of Amphastar Pharmaceuticals worth $15,406,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of AMPH. Municipal Employees Retirement System of Michigan increased its stake in 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 worth $119,000 after buying an additional 290 shares in the last quarter. Mason Street Advisors LLC increased its stake in Amphastar Pharmaceuticals by 7.0% in the first quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock worth $122,000 after buying an additional 549 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Amphastar Pharmaceuticals during the first quarter worth $193,000. Louisiana State Employees Retirement System increased its stake in Amphastar Pharmaceuticals by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock worth $212,000 after buying an additional 200 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in Amphastar Pharmaceuticals during the first quarter worth $215,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.
Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ AMPH) traded up 3.33% during midday trading on Friday, hitting $15.22. 271,628 shares of the stock traded hands. Amphastar Pharmaceuticals, Inc. has a 1-year low of $12.05 and a 1-year high of $21.75. The stock has a 50 day moving average of $16.86 and a 200 day moving average of $15.89. The company has a market capitalization of $703.09 million, a P/E ratio of 197.66 and a beta of 1.65.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $65.20 million for the quarter, compared to analyst estimates of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. Amphastar Pharmaceuticals’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Equities research analysts predict that Amphastar Pharmaceuticals, Inc. will post $0.27 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals announced that its board has authorized a stock repurchase plan on Wednesday, August 9th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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AMPH has been the topic of a number of recent research reports. TheStreet upgraded shares of Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, June 26th. Jefferies Group LLC reiterated a “buy” rating and set a $19.00 price target (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a research note on Friday, August 11th. Wells Fargo & Company restated a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Saturday, July 22nd. Piper Jaffray Companies set a $20.00 target price on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, July 29th. Finally, BMO Capital Markets restated a “hold” rating and issued a $16.00 target price on shares of Amphastar Pharmaceuticals in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.86.
In related news, Director Jason B. Shandell sold 11,482 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $16.92, for a total value of $194,275.44. Following the sale, the director now directly owns 241,342 shares of the company’s stock, valued at $4,083,506.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 33,844 shares in the company, valued at $500,891.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,482 shares of company stock worth $842,225. 11.10% of the stock is currently owned by insiders.
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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