Insider Selling: Amphastar Pharmaceuticals, Inc. (AMPH) Director Sells $1,156,684.32 in Stock
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Michael A. Zasloff sold 63,624 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $18.18, for a total value of $1,156,684.32. Following the transaction, the director now owns 101,879 shares of the company’s stock, valued at $1,852,160.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Amphastar Pharmaceuticals, Inc. (AMPH) opened at 18.96 on Friday. The firm has a 50-day moving average price of $16.25 and a 200-day moving average price of $16.08. Amphastar Pharmaceuticals, Inc. has a one year low of $12.05 and a one year high of $21.75. The company has a market capitalization of $875.86 million, a P/E ratio of 246.23 and a beta of 1.69.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $65.20 million during the quarter, compared to analyst estimates of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. Amphastar Pharmaceuticals’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. Equities analysts forecast that Amphastar Pharmaceuticals, Inc. will post $0.27 earnings per share for the current year.
Amphastar Pharmaceuticals declared that its board has approved a share repurchase plan on Wednesday, August 9th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have recently issued reports on AMPH shares. TheStreet upgraded Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, June 26th. Needham & Company LLC raised their price objective on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, September 27th. Piper Jaffray Companies restated a “buy” rating and set a $19.00 price objective on shares of Amphastar Pharmaceuticals in a research report on Sunday, September 17th. Jefferies Group LLC restated a “buy” rating and set a $19.00 price objective (down from $20.00) on shares of Amphastar Pharmaceuticals in a research report on Friday, August 11th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $20.17.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Argent Capital Management LLC bought a new position in Amphastar Pharmaceuticals during the 2nd quarter valued at approximately $1,069,000. The Manufacturers Life Insurance Company raised its position in Amphastar Pharmaceuticals by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock valued at $512,000 after purchasing an additional 312 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Amphastar Pharmaceuticals by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock valued at $23,786,000 after purchasing an additional 270,654 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Amphastar Pharmaceuticals by 72.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the company’s stock valued at $815,000 after purchasing an additional 19,091 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Amphastar Pharmaceuticals by 12.8% during the 2nd quarter. Nordea Investment Management AB now owns 115,607 shares of the company’s stock valued at $2,065,000 after purchasing an additional 13,121 shares during the last quarter. 44.26% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Amphastar Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphastar Pharmaceuticals Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.