Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Up 4.8% – Here’s Why

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s share price was up 4.8% during trading on Monday . The company traded as high as $26.45 and last traded at $26.48. Approximately 249,634 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 526,298 shares. The stock had previously closed at $25.27.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMPH shares. Barclays began coverage on shares of Amphastar Pharmaceuticals in a report on Tuesday, December 9th. They set an “equal weight” rating and a $30.00 target price on the stock. Zacks Research cut shares of Amphastar Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Bank of America lifted their target price on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Tuesday, August 26th. Needham & Company LLC lowered their target price on Amphastar Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Amphastar Pharmaceuticals in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Amphastar Pharmaceuticals has a consensus rating of “Hold” and an average target price of $31.00.

Amphastar Pharmaceuticals Stock Up 1.8%

The firm’s 50 day simple moving average is $25.51 and its 200 day simple moving average is $25.66. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 7.37 and a beta of 0.91. The company has a quick ratio of 2.21, a current ratio of 3.12 and a debt-to-equity ratio of 0.78.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.10. Amphastar Pharmaceuticals had a return on equity of 19.70% and a net margin of 15.43%.The business had revenue of $191.84 million during the quarter, compared to the consensus estimate of $186.90 million. Sell-side analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.49 EPS for the current fiscal year.

Insider Buying and Selling at Amphastar Pharmaceuticals

In other news, Director Floyd F. Petersen sold 16,679 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $26.49, for a total value of $441,826.71. Following the completion of the transaction, the director owned 75,531 shares of the company’s stock, valued at approximately $2,000,816.19. This represents a 18.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard K. Prins sold 4,179 shares of Amphastar Pharmaceuticals stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $27.10, for a total transaction of $113,250.90. Following the sale, the director owned 35,183 shares in the company, valued at approximately $953,459.30. This represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 26,021 shares of company stock valued at $688,818. Company insiders own 27.10% of the company’s stock.

Institutional Trading of Amphastar Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in shares of Amphastar Pharmaceuticals by 356.0% during the third quarter. Farther Finance Advisors LLC now owns 944 shares of the company’s stock valued at $25,000 after acquiring an additional 737 shares during the period. FNY Investment Advisers LLC acquired a new stake in Amphastar Pharmaceuticals in the third quarter worth approximately $26,000. Global Retirement Partners LLC boosted its stake in Amphastar Pharmaceuticals by 219.0% during the 3rd quarter. Global Retirement Partners LLC now owns 1,024 shares of the company’s stock valued at $27,000 after purchasing an additional 703 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Amphastar Pharmaceuticals by 192.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,262 shares of the company’s stock valued at $29,000 after purchasing an additional 831 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of Amphastar Pharmaceuticals by 3,430.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,377 shares of the company’s stock worth $32,000 after buying an additional 1,338 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

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.