State of Alaska Department of Revenue Boosts Position in Amphastar Pharmaceuticals, Inc. (AMPH)
State of Alaska Department of Revenue raised its stake in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 77.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,052 shares of the company’s stock after buying an additional 3,072 shares during the period. State of Alaska Department of Revenue’s holdings in Amphastar Pharmaceuticals were worth $125,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of AMPH. Rothschild Asset Management Inc. acquired a new stake in Amphastar Pharmaceuticals during the first quarter valued at $9,056,000. Citadel Advisors LLC boosted its stake in Amphastar Pharmaceuticals by 1,823.3% in the first quarter. Citadel Advisors LLC now owns 355,566 shares of the company’s stock valued at $5,156,000 after buying an additional 337,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Amphastar Pharmaceuticals by 68.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 800,900 shares of the company’s stock valued at $14,753,000 after buying an additional 324,043 shares in the last quarter. State Street Corp boosted its stake in Amphastar Pharmaceuticals by 11.1% in the first quarter. State Street Corp now owns 1,062,439 shares of the company’s stock valued at $15,406,000 after buying an additional 106,448 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Amphastar Pharmaceuticals by 20,071.0% in the first quarter. Sei Investments Co. now owns 103,074 shares of the company’s stock valued at $1,495,000 after buying an additional 102,563 shares in the last quarter. 44.02% of the stock is owned by institutional investors.
Shares of Amphastar Pharmaceuticals, Inc. (AMPH) traded down 2.55% on Friday, hitting $14.88. The company had a trading volume of 100,410 shares. The firm has a 50-day moving average price of $17.33 and a 200 day moving average price of $15.92. Amphastar Pharmaceuticals, Inc. has a 12-month low of $12.05 and a 12-month high of $21.75. The company has a market capitalization of $683.14 million, a P/E ratio of 193.25 and a beta of 1.65.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $65.20 million during the quarter, compared to the consensus estimate of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.43% and a net margin of 1.61%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. Equities analysts expect that Amphastar Pharmaceuticals, Inc. will post $0.40 EPS for the current year.
Amphastar Pharmaceuticals announced that its board has initiated a stock buyback plan on Wednesday, August 9th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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Several equities research analysts have recently weighed in on AMPH shares. Zacks Investment Research cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Jefferies Group LLC reduced their price objective on Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 10th. TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, June 26th. Wells Fargo & Company reissued a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Saturday, July 22nd. Finally, Piper Jaffray Companies set a $20.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, July 29th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $20.00.
In related news, Director Richard K. Prins sold 10,000 shares of the business’s stock in a transaction on Friday, June 9th. The stock was 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 directly owns 28,844 shares in the company, valued at approximately $492,367.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason B. Shandell sold 11,482 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $16.92, for a total value of $194,275.44. Following the completion of the sale, the director now owns 241,342 shares of the company’s stock, valued at $4,083,506.64. The disclosure for this sale can be found here. Insiders sold a total of 36,482 shares of company stock valued at $620,125 over the last 90 days. 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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