Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Up 3%

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) rose 3% during mid-day trading on Monday . The company traded as high as $40.87 and last traded at $40.81. Approximately 174,550 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 464,657 shares. The stock had previously closed at $39.62.

Analysts Set New Price Targets

AMPH has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Amphastar Pharmaceuticals in a research note on Tuesday, March 5th. They set an “overweight” rating and a $60.00 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, April 10th. Finally, StockNews.com cut shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.00.

Amphastar Pharmaceuticals Stock Down 1.7 %

The company has a market capitalization of $1.96 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84. The firm’s 50-day simple moving average is $47.08 and its 200 day simple moving average is $51.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.70 and a current ratio of 2.17.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.03). Amphastar Pharmaceuticals had a net margin of 21.34% and a return on equity of 26.95%. The business had revenue of $178.11 million for the quarter, compared to analysts’ expectations of $174.90 million. As a group, equities research analysts forecast that Amphastar Pharmaceuticals, Inc. will post 3.42 earnings per share for the current year.

Insider Activity at Amphastar Pharmaceuticals

In other news, Director Michael A. Zasloff sold 12,500 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $47.18, for a total value of $589,750.00. Following the completion of the sale, the director now owns 21,326 shares in the company, valued at $1,006,160.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Floyd F. Petersen sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $53.10, for a total value of $26,550.00. Following the sale, the director now owns 80,333 shares of the company’s stock, valued at approximately $4,265,682.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael A. Zasloff sold 12,500 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $47.18, for a total value of $589,750.00. Following the transaction, the director now owns 21,326 shares of the company’s stock, valued at $1,006,160.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,000 shares of company stock worth $660,860. Company insiders own 27.80% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in Amphastar Pharmaceuticals by 1.1% in the 3rd quarter. BlackRock Inc. now owns 7,147,813 shares of the company’s stock valued at $200,854,000 after purchasing an additional 75,616 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Amphastar Pharmaceuticals by 0.7% during the first quarter. Federated Hermes Inc. now owns 3,487,430 shares of the company’s stock valued at $125,199,000 after buying an additional 23,095 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Amphastar Pharmaceuticals by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 2,815,596 shares of the company’s stock worth $174,145,000 after buying an additional 48,203 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Amphastar Pharmaceuticals by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,917,571 shares of the company’s stock worth $71,909,000 after buying an additional 51,027 shares during the period. Finally, State Street Corp grew its holdings in Amphastar Pharmaceuticals by 16.6% in the 2nd quarter. State Street Corp now owns 1,540,846 shares of the company’s stock worth $53,606,000 after buying an additional 218,895 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

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.