Richard Prins Sells 7,973 Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Director Richard Prins sold 7,973 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $20.30, for a total value of $161,851.90. Following the transaction, the director directly owned 29,625 shares of the company’s stock, valued at $601,387.50. This trade represents a 21.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Amphastar Pharmaceuticals Price Performance

NASDAQ:AMPH traded down $0.44 during trading hours on Wednesday, hitting $19.98. The company’s stock had a trading volume of 337,350 shares, compared to its average volume of 532,241. The company has a market capitalization of $849.95 million, a P/E ratio of 11.82, a PEG ratio of 4.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.40 and a quick ratio of 1.71. Amphastar Pharmaceuticals, Inc. has a twelve month low of $16.65 and a twelve month high of $31.26. The stock has a fifty day simple moving average of $19.74 and a 200-day simple moving average of $21.28.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The company had revenue of $183.90 million for the quarter, compared to the consensus estimate of $179.92 million. Amphastar Pharmaceuticals had a net margin of 10.76% and a return on equity of 14.98%. On average, analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in AMPH. AQR Capital Management LLC increased its position in Amphastar Pharmaceuticals by 82.0% during the 1st quarter. AQR Capital Management LLC now owns 53,638 shares of the company’s stock valued at $1,555,000 after purchasing an additional 24,167 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Amphastar Pharmaceuticals by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,489 shares of the company’s stock worth $652,000 after buying an additional 613 shares during the period. Intech Investment Management LLC raised its stake in Amphastar Pharmaceuticals by 43.0% during the first quarter. Intech Investment Management LLC now owns 60,289 shares of the company’s stock worth $1,748,000 after buying an additional 18,133 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Amphastar Pharmaceuticals in the second quarter valued at $1,865,000. Finally, Invesco Ltd. boosted its position in Amphastar Pharmaceuticals by 7.7% during the second quarter. Invesco Ltd. now owns 386,971 shares of the company’s stock valued at $8,885,000 after acquiring an additional 27,828 shares during the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AMPH. Wall Street Zen raised shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Barclays dropped their price target on Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 3rd. Piper Sandler cut their target price on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company boosted their target price on shares of Amphastar Pharmaceuticals from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, July 8th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $22.00.

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.