Insider Selling: Amphastar Pharmaceuticals (NASDAQ:AMPH) CFO Sells $366,172.69 in Stock

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) CFO William Peters sold 12,631 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $28.99, for a total transaction of $366,172.69. Following the completion of the sale, the chief financial officer owned 167,076 shares of the company’s stock, valued at $4,843,533.24. This trade represents a 7.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amphastar Pharmaceuticals Price Performance

AMPH stock traded up $0.83 during trading on Friday, reaching $28.49. 826,253 shares of the company were exchanged, compared to its average volume of 512,892. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.71 and a current ratio of 2.40. The stock’s 50 day moving average price is $25.22 and its 200 day moving average price is $22.31. Amphastar Pharmaceuticals, Inc. has a 52-week low of $16.65 and a 52-week high of $31.00. The company has a market cap of $1.21 billion, a P/E ratio of 16.86, a PEG ratio of 5.46 and a beta of 0.93.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Thursday, November 5th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.28. The company had revenue of $207.61 million during the quarter, compared to analysts’ expectations of $197.52 million. Amphastar Pharmaceuticals had a net margin of 10.76% and a return on equity of 14.98%. As a group, analysts predict that Amphastar Pharmaceuticals, Inc. will post 2.43 earnings per share for the current fiscal year.

Trending Headlines about Amphastar Pharmaceuticals

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

Wall Street Analysts Forecast Growth

AMPH has been the topic of several research reports. Weiss Ratings raised Amphastar Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Barclays lifted their price target on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Wall Street Zen lowered shares of Amphastar Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st. Zacks Research upgraded shares of Amphastar Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Piper Sandler lowered their price objective on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Amphastar Pharmaceuticals has an average rating of “Reduce” and a consensus price target of $23.33.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new position in shares of Amphastar Pharmaceuticals during the 3rd quarter worth approximately $33,000. Fulcrum Asset Management LLP lifted its stake in Amphastar Pharmaceuticals by 473.9% in the 3rd quarter. Fulcrum Asset Management LLP now owns 10,044 shares of the company’s stock valued at $268,000 after buying an additional 8,294 shares in the last quarter. Hohimer Wealth Management LLC grew 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 valued at $358,000 after buying an additional 739 shares during the last quarter. Bridge City Capital LLC lifted its position in shares of Amphastar Pharmaceuticals by 13.3% in the third quarter. Bridge City Capital LLC now owns 383,901 shares of the company’s stock valued at $9,908,000 after acquiring an additional 45,193 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Amphastar Pharmaceuticals during the third quarter valued at $56,000. 65.09% of the stock is owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Company Profile

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.