Insider Selling: Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Sells 500 Shares of Stock

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Floyd F. Petersen sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $41.67, for a total transaction of $20,835.00. Following the sale, the director now owns 78,833 shares in the company, valued at $3,284,971.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Amphastar Pharmaceuticals Stock Performance

Shares of AMPH stock traded up $0.58 during mid-day trading on Thursday, hitting $42.66. 280,813 shares of the stock were exchanged, compared to its average volume of 446,281. The stock’s fifty day simple moving average is $43.89 and its two-hundred day simple moving average is $50.82. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.70 and a current ratio of 2.17. Amphastar Pharmaceuticals, Inc. has a 12-month low of $35.93 and a 12-month high of $67.66. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 0.99 and a beta of 0.85.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.03). The firm had revenue of $178.11 million during the quarter, compared to analyst estimates of $174.90 million. Amphastar Pharmaceuticals had a net margin of 21.34% and a return on equity of 26.95%. On average, analysts forecast that Amphastar Pharmaceuticals, Inc. will post 3.41 EPS for the current year.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. TD Asset Management Inc grew its position in Amphastar Pharmaceuticals by 449.0% during the 4th quarter. TD Asset Management Inc now owns 793,559 shares of the company’s stock worth $49,082,000 after purchasing an additional 649,001 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in Amphastar Pharmaceuticals by 348.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 592,530 shares of the company’s stock valued at $36,648,000 after acquiring an additional 460,473 shares during the last quarter. Boone Capital Management LLC acquired a new stake in Amphastar Pharmaceuticals during the 4th quarter worth approximately $24,740,000. Victory Capital Management Inc. grew its stake in shares of Amphastar Pharmaceuticals by 870.9% in the 4th quarter. Victory Capital Management Inc. now owns 237,474 shares of the company’s stock valued at $14,688,000 after purchasing an additional 213,014 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Amphastar Pharmaceuticals by 44.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 554,850 shares of the company’s stock worth $25,518,000 after purchasing an additional 171,642 shares during the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Amphastar Pharmaceuticals in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $60.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, April 10th. Finally, StockNews.com downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.00.

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.