Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) issued its quarterly earnings results on Wednesday. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05, Briefing.com reports. The company had revenue of $65.20 million for the quarter, compared to the consensus estimate of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.69% and a net margin of 3.54%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down 2.12% on Thursday, reaching $15.21. 263,439 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $17.39 and its 200 day moving average price is $15.92. The company has a market cap of $695.66 million, a price-to-earnings ratio of 80.05 and a beta of 1.65. Amphastar Pharmaceuticals has a 12 month low of $12.05 and a 12 month high of $21.75.
In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 10,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $17.07, for a total value of $170,700.00. Following the completion of the sale, the director now owns 28,844 shares of the company’s stock, valued at approximately $492,367.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael A. Zasloff sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $17.01, for a total transaction of $255,150.00. Following the completion of the sale, the director now directly owns 47,411 shares of the company’s stock, valued at approximately $806,461.11. The disclosure for this sale can be found here. Insiders sold a total of 36,482 shares of company stock valued at $620,125 in the last three months. Insiders own 11.10% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Amphastar Pharmaceuticals by 17.7% in 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 period. SG Americas Securities LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the second quarter worth $111,000. Municipal Employees Retirement System of Michigan increased its stake in shares of 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 during the period. Mason Street Advisors LLC increased its stake in shares of 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 during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Amphastar Pharmaceuticals by 77.2% in 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 period. 44.02% of the stock is owned by institutional investors.
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 buy 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.
Several brokerages have recently issued reports on AMPH. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Saturday, July 22nd. BMO Capital Markets reiterated a “hold” rating and issued a $16.00 target price on shares of Amphastar Pharmaceuticals in a research note on Monday, July 31st. 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. BidaskClub cut shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, TheStreet upgraded shares of Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Amphastar Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $20.00.
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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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