Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 12-Month Low on Insider Selling

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) reached a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $37.46 and last traded at $37.97, with a volume of 101995 shares trading hands. The stock had previously closed at $40.00.

Specifically, CFO William J. Peters sold 3,596 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $40.93, for a total value of $147,184.28. Following the sale, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $3,851,635.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO William J. Peters sold 3,596 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $40.93, for a total transaction of $147,184.28. Following the transaction, the chief financial officer now owns 94,103 shares in the company, valued at approximately $3,851,635.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Floyd F. Petersen sold 3,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $41.40, for a total transaction of $124,200.00. Following the completion of the sale, the director now owns 78,409 shares of the company’s stock, valued at approximately $3,246,132.60. The disclosure for this sale can be found here. Insiders sold 7,596 shares of company stock worth $313,544 over the last ninety days. Company insiders own 27.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMPH shares. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, May 22nd. Piper Sandler restated an “overweight” rating and set a $71.00 price target on shares of Amphastar Pharmaceuticals in a research note on Thursday. JPMorgan Chase & Co. started coverage on Amphastar Pharmaceuticals in a report on Tuesday, March 5th. They issued an “overweight” rating and a $60.00 target price for the company. Finally, StockNews.com raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Amphastar Pharmaceuticals Stock Down 4.7 %

The firm has a fifty day moving average price of $41.61 and a 200 day moving average price of $47.76. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 0.82 and a beta of 0.80. The company has a current ratio of 2.18, a quick ratio of 1.72 and a debt-to-equity ratio of 0.88.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, May 8th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.73 by $0.20. The company had revenue of $171.84 million for the quarter, compared to analysts’ expectations of $171.13 million. Amphastar Pharmaceuticals had a return on equity of 29.17% and a net margin of 22.88%. Sell-side analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Large investors have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new position in Amphastar Pharmaceuticals in the 3rd quarter valued at $330,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Amphastar Pharmaceuticals during the 3rd quarter worth about $847,000. Qube Research & Technologies Ltd raised its holdings in Amphastar Pharmaceuticals by 1,561.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 102,324 shares of the company’s stock worth $4,706,000 after purchasing an additional 96,167 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Amphastar Pharmaceuticals by 37.2% in the 3rd quarter. Lazard Asset Management LLC now owns 9,187 shares of the company’s stock valued at $422,000 after purchasing an additional 2,491 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Amphastar Pharmaceuticals by 44.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 554,850 shares of the company’s stock worth $25,518,000 after buying an additional 171,642 shares during the period. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.