Published On: Thu, Sep 15th, 2016

Amphastar Pharmaceuticals Inc. (AMPH) Trading 2.3% Higher

Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH)’s share price traded up 2.3% during trading on Wednesday . The company traded as high as $18.49 and last traded at $18.33, with a volume of 132,168 shares traded. The stock had previously closed at $17.91.
A number of equities analysts have recently commented on the company. Piper Jaffray Cos. reissued an “overweight” rating and set a $22.00 price target on shares of Amphastar Pharmaceuticals in a report on Thursday, August 11th. Jefferies Group boosted their price target on Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. BMO Capital Markets reissued a “hold” rating and set a $17.00 price target on shares of Amphastar Pharmaceuticals in a report on Tuesday, August 9th. Zacks Investment Research raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, August 1st. Finally, Needham & Company LLC boosted their price target on Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Amphastar Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $20.00.
The stock has a market cap of $822.56 million, a price-to-earnings ratio of 59.19 and a beta of 1.83. The firm has a 50 day moving average price of $18.19 and a 200 day moving average price of $15.08.

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Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its earnings results on Monday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The company had revenue of $68 million for the quarter, compared to analysts’ expectations of $62.10 million. Amphastar Pharmaceuticals had a return on equity of 4.71% and a net margin of 5.19%. Amphastar Pharmaceuticals’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. Equities research analysts forecast that Amphastar Pharmaceuticals Inc. will post $0.37 earnings per share for the current fiscal year.
In related news, Director Floyd F. Petersen sold 3,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $19.05, for a total value of $57,150.00. Following the sale, the director now directly owns 60,317 shares of the company’s stock, valued at $1,149,038.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane G. Gerst sold 24,046 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $19.28, for a total value of $463,606.88. Following the sale, the executive vice president now directly owns 39,031 shares in the company, valued at $752,517.68. The disclosure for this sale can be found here. 29.30% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Amphastar Pharmaceuticals by 57.5% in the second quarter. Acrospire Investment Management LLC now owns 6,791 shares of the company’s stock valued at $109,000 after buying an additional 2,479 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Amphastar Pharmaceuticals during the first quarter valued at $115,000. BlackRock Group LTD boosted its stake in Amphastar Pharmaceuticals by 61.7% in the first quarter. BlackRock Group LTD now owns 11,629 shares of the company’s stock valued at $140,000 after buying an additional 4,439 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Amphastar Pharmaceuticals during the first quarter valued at $180,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Amphastar Pharmaceuticals during the second quarter valued at $207,000. 35.87% of the stock is currently 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 and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.

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