Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock: Insider William Peters Sells 16,000 Shares

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) CFO William Peters sold 16,000 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $28.03, for a total transaction of $448,480.00. Following the completion of the sale, the chief financial officer directly owned 168,707 shares in the company, valued at approximately $4,728,857.21. The trade was a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amphastar Pharmaceuticals Trading Up 3.0%

Shares of Amphastar Pharmaceuticals stock opened at $28.49 on Friday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 5.56 and a beta of 0.93. The company has a quick ratio of 1.71, a current ratio of 2.40 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $25.35 and a 200 day simple moving average of $22.33. Amphastar Pharmaceuticals, Inc. has a 12-month low of $16.65 and a 12-month high of $31.00.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings results on Thursday, November 5th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.28. The firm had revenue of $207.61 million during the quarter, compared to the consensus estimate of $197.52 million. Amphastar Pharmaceuticals had a net margin of 13.27% and a return on equity of 15.49%. Research analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.43 earnings per share for the current fiscal year.

Amphastar Pharmaceuticals News Roundup

Here are the key news stories impacting Amphastar Pharmaceuticals this week:

• Positive Sentiment: Amphastar reported adjusted third-quarter earnings of $1.14 per share, ahead of analyst estimates of $0.78–$0.86 and up from $0.93 a year earlier. Revenue of $207.6 million also topped estimates of $197.52 million. The earnings and revenue beats are the clearest positive catalysts in the recent news. Company earnings release
• Positive Sentiment: GAAP net income was $37.8 million, or $0.87 per share; adjusted non-GAAP net income was $49.3 million, or $1.14 per share. The results suggest solid quarterly profitability alongside the sales growth. Quarterly results
• Negative Sentiment: Wells Fargo raised its price target from $20 to $25 but kept an “equal weight” rating. The new target remains about 12.2% below the cited current price, which may temper enthusiasm despite the improved target. Wells Fargo price target update

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. bought a new position in Amphastar Pharmaceuticals in the third quarter valued at about $33,000. Fulcrum Asset Management LLP increased its position in Amphastar Pharmaceuticals by 473.9% in the third quarter. Fulcrum Asset Management LLP now owns 10,044 shares of the company’s stock worth $268,000 after purchasing an additional 8,294 shares during the period. Hohimer Wealth Management LLC raised its holdings in Amphastar Pharmaceuticals by 5.6% during the 3rd quarter. Hohimer Wealth Management LLC now owns 13,867 shares of the company’s stock worth $358,000 after purchasing an additional 739 shares during the last quarter. Bridge City Capital LLC raised its holdings in Amphastar Pharmaceuticals by 13.3% during the 3rd quarter. Bridge City Capital LLC now owns 383,901 shares of the company’s stock worth $9,908,000 after purchasing an additional 45,193 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter valued at about $56,000. 65.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMPH. Weiss Ratings raised Amphastar Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Wells Fargo & Company increased their price target on Amphastar Pharmaceuticals from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Sandler dropped their price target on Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Barclays lifted their price objective on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen lowered Amphastar Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 1st. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $23.33.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a biopharmaceutical company that develops, manufactures and markets injectable, inhalation and intranasal products. The company focuses on technically challenging medicines, including complex generics, proprietary products and products based on its drug-delivery technologies.

Its product portfolio includes Primatene MIST, an over-the-counter epinephrine inhaler; Baqsimi, a nasal glucagon product used to treat severe hypoglycemia; and injectable medicines such as glucagon, naloxone, enoxaparin and hyaluronidase.