Squarepoint Ops LLC Has $1.59 Million Stock Holdings in Amphastar Pharmaceuticals, Inc. $AMPH

Key Points

• Squarepoint Ops LLC increased its Amphastar Pharmaceuticals stake by 178% in the second quarter, holding 78,795 shares valued at approximately $1.59 million. Institutional investors and hedge funds collectively own 65.09% of the company.
• Analysts remain cautious: six rate AMPH as a Hold and two as a Sell, producing an overall “Reduce” rating and a consensus price target of $22.50.
• Amphastar exceeded quarterly expectations, reporting $0.91 in earnings per share versus the $0.62 estimate and $183.9 million in revenue versus the $179.92 million forecast. However, company insiders sold 19,340 shares worth $421,047 during the last quarter.

Squarepoint Ops LLC grew its position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 178.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,795 shares of the company's stock after purchasing an additional 50,450 shares during the quarter. Squarepoint Ops LLC owned approximately 0.19% of Amphastar Pharmaceuticals worth $1,590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC bought a new position in Amphastar Pharmaceuticals in the 2nd quarter worth $3,286,000. Bank of America Corp DE bought a new stake in Amphastar Pharmaceuticals during the second quarter valued at about $2,761,000. Man Group plc acquired a new stake in shares of Amphastar Pharmaceuticals in the second quarter valued at about $350,000. Jupiter Topco LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the second quarter valued at about $340,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Amphastar Pharmaceuticals in the second quarter worth about $232,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on AMPH. Zacks Research raised Amphastar Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Wells Fargo & Company raised their target price on Amphastar Pharmaceuticals from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Wall Street Zen downgraded Amphastar Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Piper Sandler cut their price target on Amphastar Pharmaceuticals from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Finally, Barclays increased their price objective on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 18th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $22.50.

Amphastar Pharmaceuticals Stock Performance

NASDAQ:AMPH opened at $23.64 on Wednesday. The firm's 50-day moving average is $20.99 and its 200-day moving average is $20.32. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 4.61 and a beta of 0.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.71 and a current ratio of 2.40. Amphastar Pharmaceuticals, Inc. has a 52-week low of $16.65 and a 52-week high of $29.52.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.29. Amphastar Pharmaceuticals had a net margin of 10.76% and a return on equity of 14.98%. The business had revenue of $183.90 million during the quarter, compared to analysts' expectations of $179.92 million. Equities research analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, EVP Rong Zhou sold 3,187 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $23.63, for a total value of $75,308.81. Following the completion of the sale, the executive vice president owned 169,203 shares in the company, valued at approximately $3,998,266.89. This trade represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Prins sold 7,973 shares of Amphastar Pharmaceuticals stock in a transaction that occurred 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 sale, the director directly owned 29,625 shares in the company, valued at $601,387.50. The trade was a 21.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,340 shares of company stock valued at $421,047 in the last quarter. Corporate insiders own 29.60% of the company's stock.

Amphastar Pharmaceuticals Profile

Amphastar Pharmaceuticals, Inc is a biopharmaceutical company that develops, manufactures and markets injectable, inhaled and intranasal products. The company focuses on complex and technically challenging medicines, including products for diabetes, emergency medicine, respiratory conditions and other specialty-care applications.

Its marketed products include glucagon for treating severe hypoglycemia, BAQSIMI nasal glucagon, Primatene MIST for temporary relief of mild intermittent asthma symptoms, naloxone products for opioid overdose emergencies, and enoxaparin sodium injection, an anticoagulant.

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