Morgan Stanley lowered its position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 34.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,776 shares of the company’s stock after selling 50,099 shares during the quarter. Morgan Stanley’s holdings in Amphastar Pharmaceuticals were worth $1,402,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its position in Amphastar Pharmaceuticals by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock worth $212,000 after acquiring an additional 200 shares during the last quarter. Arizona State Retirement System boosted its position in Amphastar Pharmaceuticals by 1.1% during the 1st quarter. Arizona State Retirement System now owns 18,700 shares of the company’s stock worth $271,000 after acquiring an additional 200 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Amphastar Pharmaceuticals by 3.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock worth $119,000 after acquiring an additional 290 shares during the last quarter. Mason Street Advisors LLC boosted its position in Amphastar Pharmaceuticals by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock worth $122,000 after acquiring an additional 549 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Amphastar Pharmaceuticals by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 57,026 shares of the company’s stock worth $827,000 after acquiring an additional 678 shares during the last quarter. 44.51% of the stock is owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals, Inc. (AMPH) traded down 0.81% during midday trading on Monday, hitting $15.88. The stock had a trading volume of 159,810 shares. The stock has a market capitalization of $733.58 million, a PE ratio of 206.23 and a beta of 1.66. Amphastar Pharmaceuticals, Inc. has a 1-year low of $12.05 and a 1-year high of $21.75. The stock’s 50-day moving average is $16.25 and its 200-day moving average is $15.84.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $65.20 million during the quarter, compared to the consensus estimate of $63.40 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. Amphastar Pharmaceuticals’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Amphastar Pharmaceuticals, Inc. will post $0.27 EPS for the current fiscal year.

Amphastar Pharmaceuticals announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 9th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

AMPH has been the subject of a number of recent research reports. TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, June 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.00 price target (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a research report on Friday, August 11th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $20.00 price target on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $16.00 price target 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 issued a hold rating and five have issued a buy rating to the company. Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $19.86.

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In related news, Director Richard K. Prins sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $14.81, for a total transaction of $148,100.00. Following the completion of the sale, the director now owns 33,844 shares in the company, valued at $501,229.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard K. Prins sold 5,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $14.80, for a total value of $74,000.00. Following the sale, the director now owns 33,844 shares of the company’s stock, valued at approximately $500,891.20. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $392,800 in the last quarter. 11.10% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Amphastar Pharmaceuticals (NASDAQ:AMPH)

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