Clark Capital Management Group Inc. Takes $7.56 Million Position in Amphastar Pharmaceuticals, Inc. $AMPH

Clark Capital Management Group Inc. bought a new position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 283,674 shares of the company’s stock, valued at approximately $7,560,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMPH. New York State Common Retirement Fund lifted its stake in shares of Amphastar Pharmaceuticals by 86.4% during the 3rd quarter. New York State Common Retirement Fund now owns 90,169 shares of the company’s stock worth $2,403,000 after purchasing an additional 41,800 shares during the period. Capital Fund Management S.A. purchased a new stake in shares of Amphastar Pharmaceuticals in the second quarter valued at $931,000. Rice Hall James & Associates LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at $3,447,000. SummerHaven Investment Management LLC acquired a new position in Amphastar Pharmaceuticals in the third quarter valued at $1,018,000. Finally, Quantbot Technologies LP increased its stake in Amphastar Pharmaceuticals by 188.8% in the second quarter. Quantbot Technologies LP now owns 60,955 shares of the company’s stock valued at $1,400,000 after purchasing an additional 39,846 shares during the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Price Performance

Shares of Amphastar Pharmaceuticals stock opened at $18.17 on Monday. Amphastar Pharmaceuticals, Inc. has a twelve month low of $17.03 and a twelve month high of $31.26. The stock has a market capitalization of $824.37 million, a P/E ratio of 8.95, a PEG ratio of 1.52 and a beta of 0.93. The company has a current ratio of 4.02, a quick ratio of 2.90 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average price is $25.76 and its 200 day moving average price is $26.21.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.24). The firm had revenue of $183.11 million for the quarter, compared to analyst estimates of $190.48 million. Amphastar Pharmaceuticals had a return on equity of 17.58% and a net margin of 13.63%. As a group, research analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.49 earnings per share for the current year.

Insider Activity

In related news, EVP Rong Zhou sold 9,787 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $26.20, for a total transaction of $256,419.40. Following the completion of the sale, the executive vice president owned 138,043 shares of the company’s stock, valued at approximately $3,616,726.60. This represents a 6.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 27.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays started coverage on Amphastar Pharmaceuticals in a research note on Tuesday, December 9th. They issued an “equal weight” rating and a $30.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Needham & Company LLC cut their price objective on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.50.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.