Amphastar Pharmaceuticals (NASDAQ:AMPH) CFO William Peters Sells 8,180 Shares

Key Points

• CFO William Peters sold 8,180 Amphastar shares at an average price of $22.48, generating $183,886.40. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 4.52% to 172,846 shares.
• Amphastar reported quarterly EPS of $0.91, beating estimates of $0.62, while revenue of $183.9 million exceeded the $179.9 million consensus forecast.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and two rate it Sell, resulting in a consensus “Reduce” rating and an average price target of $22.00.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) CFO William Peters sold 8,180 shares of Amphastar Pharmaceuticals stock in a transaction on Friday, August 7th. The stock was sold at an average price of $22.48, for a total transaction of $183,886.40. Following the transaction, the chief financial officer owned 172,846 shares in the company, valued at $3,885,578.08. This represents a 4.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amphastar Pharmaceuticals Stock Performance

Shares of NASDAQ:AMPH traded up $0.11 during midday trading on Tuesday, hitting $20.42. The company had a trading volume of 363,292 shares, compared to its average volume of 532,151. Amphastar Pharmaceuticals, Inc. has a 12-month low of $16.65 and a 12-month high of $31.26. The company has a fifty day moving average of $19.70 and a two-hundred day moving average of $21.32. The company has a market cap of $868.63 million, a price-to-earnings ratio of 12.08, a PEG ratio of 4.39 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 (NASDAQ:AMPH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.29. The business had revenue of $183.90 million during the quarter, compared to analyst estimates of $179.92 million. Amphastar Pharmaceuticals had a return on equity of 14.98% and a net margin of 10.76%. On average, equities research analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMPH shares. Piper Sandler reduced their target price on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Friday. Bank of America reissued an "underperform" rating and issued a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, June 29th. Needham & Company LLC restated a "hold" rating on shares of Amphastar Pharmaceuticals in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, July 8th. Finally, Barclays cut 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. Six investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $22.00.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in AMPH. Denali Advisors LLC bought a new stake in shares of Amphastar Pharmaceuticals during the second quarter valued at approximately $7,587,000. Marshall Wace LLP boosted its position in shares of Amphastar Pharmaceuticals by 41.6% during the fourth quarter. Marshall Wace LLP now owns 1,237,284 shares of the company's stock worth $33,134,000 after acquiring an additional 363,216 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Amphastar Pharmaceuticals by 382.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 392,310 shares of the company's stock valued at $10,455,000 after acquiring an additional 311,071 shares in the last quarter. UBS Group AG increased its holdings in Amphastar Pharmaceuticals by 367.2% in the 3rd quarter. UBS Group AG now owns 312,274 shares of the company's stock valued at $8,322,000 after acquiring an additional 245,440 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Amphastar Pharmaceuticals in the 2nd quarter worth $4,689,000. 65.09% of the stock is owned by hedge funds and other institutional investors.

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.

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