Allspring Global Investments Holdings LLC Increases Stock Position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Allspring Global Investments Holdings LLC grew its holdings in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 61.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,564 shares of the company’s stock after purchasing an additional 24,678 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.13% of Amphastar Pharmaceuticals worth $2,835,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in Amphastar Pharmaceuticals by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 21,440 shares of the company’s stock valued at $1,326,000 after buying an additional 169 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Amphastar Pharmaceuticals by 27.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,026 shares of the company’s stock valued at $63,000 after acquiring an additional 223 shares in the last quarter. Bridge City Capital LLC lifted its position in shares of Amphastar Pharmaceuticals by 0.8% in the first quarter. Bridge City Capital LLC now owns 34,773 shares of the company’s stock valued at $1,527,000 after acquiring an additional 275 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Amphastar Pharmaceuticals during the 4th quarter worth about $28,000. Finally, Principal Securities Inc. purchased a new stake in Amphastar Pharmaceuticals during the 4th quarter worth about $34,000. 65.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amphastar Pharmaceuticals

In related news, CFO William J. Peters sold 3,596 shares of Amphastar Pharmaceuticals stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO William J. Peters sold 3,596 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $40.93, for a total transaction of $147,184.28. Following the sale, the chief financial officer now directly owns 94,103 shares in the company, valued at approximately $3,851,635.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Floyd F. Petersen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $41.40, for a total value of $124,200.00. Following the completion of the transaction, 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 valued at $313,544 over the last 90 days. Corporate insiders own 27.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, May 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $71.00 price objective on shares of Amphastar Pharmaceuticals in a research report on Thursday, June 27th. Finally, JPMorgan Chase & Co. started coverage on Amphastar Pharmaceuticals in a research report on Tuesday, March 5th. They set an “overweight” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.00.

Amphastar Pharmaceuticals Price Performance

Shares of Amphastar Pharmaceuticals stock opened at $37.58 on Wednesday. The business’s fifty day moving average price is $41.51 and its 200 day moving average price is $47.48. Amphastar Pharmaceuticals, Inc. has a twelve month low of $37.30 and a twelve month high of $67.66. The company has a current ratio of 2.18, a quick ratio of 1.72 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.84 billion, a P/E ratio of 13.00, a PEG ratio of 0.82 and a beta of 0.80.

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

About Amphastar Pharmaceuticals

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.