Quantedge Capital Pte Ltd Sells 78,200 Shares of Amphastar Pharmaceuticals, Inc. $AMPH

Key Points

• Quantedge Capital Pte Ltd cut its Amphastar Pharmaceuticals stake by 85.3% in the first quarter, selling 78,200 shares and leaving it with 13,500 shares valued at about $264,000.
• Amphastar reported Q1 EPS of $0.42, missing the $0.70 consensus estimate, while revenue came in slightly below expectations at $171.17 million.
• Wall Street sentiment remains cautious: several firms have lowered price targets, and the stock now carries an average “Reduce” rating with a consensus target price of $22.

Quantedge Capital Pte Ltd lowered its stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 85.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,500 shares of the company's stock after selling 78,200 shares during the quarter. Quantedge Capital Pte Ltd's holdings in Amphastar Pharmaceuticals were worth $264,000 at the end of the most recent reporting period.

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

Amphastar Pharmaceuticals Stock Performance

AMPH stock opened at $19.59 on Wednesday. Amphastar Pharmaceuticals, Inc. has a 1-year low of $16.65 and a 1-year high of $31.26. The company has a current ratio of 3.85, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The firm has a market cap of $863.72 million, a PE ratio of 11.80, a P/E/G ratio of 3.86 and a beta of 0.89. The business's 50-day moving average price is $19.24 and its two-hundred day moving average price is $22.04.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.28). Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%.The business had revenue of $171.17 million during the quarter, compared to the consensus estimate of $173.46 million. As a group, research analysts forecast that Amphastar Pharmaceuticals, Inc. will post 2.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMPH. Jefferies Financial Group restated a "hold" rating and set a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, July 8th. Bank of America reissued an "underperform" rating and set a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, June 29th. Piper Sandler restated a "neutral" rating and set a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Finally, Zacks Research downgraded shares of Amphastar Pharmaceuticals from a "hold" rating to a "strong sell" rating in a research note on Monday, June 22nd. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Amphastar Pharmaceuticals has an average rating of "Reduce" and a consensus price target of $22.00.

Amphastar Pharmaceuticals 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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