Clark Capital Management Group Inc. Invests $7.56 Million in Amphastar Pharmaceuticals, Inc. $AMPH

Clark Capital Management Group Inc. purchased a new stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 283,674 shares of the company’s stock, valued at approximately $7,560,000. Clark Capital Management Group Inc. owned approximately 0.62% of Amphastar Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in Amphastar Pharmaceuticals by 356.0% in the third quarter. Farther Finance Advisors LLC now owns 944 shares of the company’s stock valued at $25,000 after buying an additional 737 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Amphastar Pharmaceuticals by 219.0% during the 3rd quarter. Global Retirement Partners LLC now owns 1,024 shares of the company’s stock valued at $27,000 after acquiring an additional 703 shares during the period. Quadrant Capital Group LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the 3rd quarter worth approximately $82,000. Hantz Financial Services Inc. grew its holdings in shares of Amphastar Pharmaceuticals by 126.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,122 shares of the company’s stock worth $83,000 after acquiring an additional 1,745 shares during the period. Finally, State of Wyoming grew its holdings in shares of Amphastar Pharmaceuticals by 21.2% in the 3rd quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $88,000 after acquiring an additional 578 shares during the period. Institutional investors and hedge funds own 65.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMPH. Wells Fargo & Company dropped their price objective on Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Needham & Company LLC lowered their target price on Amphastar Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Barclays started coverage on Amphastar Pharmaceuticals in a research report on Tuesday, December 9th. They issued an “equal weight” rating and a $30.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $29.50.

Insider Activity at Amphastar Pharmaceuticals

In related news, EVP Rong Zhou sold 9,787 shares of Amphastar Pharmaceuticals stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $26.20, for a total transaction of $256,419.40. Following the completion of the sale, the executive vice president owned 138,043 shares in the company, valued at approximately $3,616,726.60. This trade represents a 6.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 27.10% of the stock is currently owned by insiders.

Amphastar Pharmaceuticals Stock Performance

Shares of Amphastar Pharmaceuticals stock opened at $18.17 on Monday. Amphastar Pharmaceuticals, Inc. has a 1 year low of $17.03 and a 1 year high of $31.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.02 and a quick ratio of 2.90. The business has a 50 day moving average price of $25.76 and a 200 day moving average price of $26.21. The company has a market capitalization of $824.37 million, a P/E ratio of 8.95, a P/E/G ratio of 1.52 and a beta of 0.93.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.24). Amphastar Pharmaceuticals had a net margin of 13.63% and a return on equity of 17.58%. The company had revenue of $183.11 million for the quarter, compared to analyst estimates of $190.48 million. Sell-side analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.49 EPS for the current fiscal year.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.