Amphastar Pharmaceuticals (NASDAQ:AMPH) CFO William Peters Sells 16,000 Shares of Stock

Key Points

• CFO William Peters sold 16,000 shares for $448,480 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 8.66% to 168,707 shares.
• Amphastar reported quarterly earnings of $1.14 per share and revenue of $207.6 million, both above analyst estimates.
• The stock rose 3.0% to $28.49; analysts’ consensus rating was “Reduce,” with an average price target of $23.33.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) CFO William Peters sold 16,000 shares of the business's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $28.03, for a total value of $448,480.00. Following the sale, the chief financial officer owned 168,707 shares in the company, valued at approximately $4,728,857.21. The trade was a 8.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amphastar Pharmaceuticals Trading Up 3.0%

AMPH stock traded up $0.83 during mid-day trading on Friday, reaching $28.49. 826,253 shares of the stock traded hands, compared to its average volume of 512,892. Amphastar Pharmaceuticals, Inc. has a 52-week low of $16.65 and a 52-week high of $31.00. The stock's fifty day moving average is $25.22 and its 200-day moving average is $22.31. The company has a market cap of $1.21 billion, a P/E ratio of 16.86, a P/E/G ratio of 5.46 and a beta of 0.93. The company has a current ratio of 2.40, a quick ratio of 1.71 and a debt-to-equity ratio of 0.79.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.28. Amphastar Pharmaceuticals had a net margin of 10.76% and a return on equity of 14.98%. The business had revenue of $207.61 million for the quarter, compared to the consensus estimate of $197.52 million. As a group, sell-side analysts expect that Amphastar Pharmaceuticals, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMPH. Wall Street Zen cut shares of Amphastar Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 1st. Barclays raised their target price on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 18th. Weiss Ratings upgraded Amphastar Pharmaceuticals from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Piper Sandler lowered their price target on Amphastar Pharmaceuticals from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Finally, Wells Fargo & Company upped their price target on Amphastar Pharmaceuticals from $20.00 to $25.00 and gave the company an "equal weight" rating in a research report on Friday. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $23.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPH. Dimensional Fund Advisors LP raised its stake in shares of Amphastar Pharmaceuticals by 12.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,027,947 shares of the company's stock worth $39,726,000 after purchasing an additional 228,262 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 1.7% during the 1st quarter. Renaissance Technologies LLC now owns 553,900 shares of the company's stock valued at $10,851,000 after buying an additional 9,200 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Amphastar Pharmaceuticals by 4.0% during the 1st quarter. Systematic Financial Management LP now owns 452,898 shares of the company's stock valued at $8,872,000 after buying an additional 17,318 shares during the last quarter. Bridge City Capital LLC grew its stake in shares of Amphastar Pharmaceuticals by 13.3% in the 3rd quarter. Bridge City Capital LLC now owns 383,901 shares of the company's stock valued at $9,908,000 after buying an additional 45,193 shares in the last quarter. Finally, Denali Advisors LLC grew its stake in shares of Amphastar Pharmaceuticals by 41.1% in the 2nd quarter. Denali Advisors LLC now owns 375,965 shares of the company's stock valued at $7,587,000 after buying an additional 109,500 shares in the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals News Summary

Here are the key news stories impacting Amphastar Pharmaceuticals this week:

• Positive Sentiment: Amphastar reported adjusted third-quarter earnings of $1.14 per share, ahead of analyst estimates of $0.78–$0.86 and up from $0.93 a year earlier. Revenue of $207.6 million also topped estimates of $197.52 million. The earnings and revenue beats are the clearest positive catalysts in the recent news. Company earnings release
• Positive Sentiment: GAAP net income was $37.8 million, or $0.87 per share; adjusted non-GAAP net income was $49.3 million, or $1.14 per share. The results suggest solid quarterly profitability alongside the sales growth. Quarterly results
• Negative Sentiment: Wells Fargo raised its price target from $20 to $25 but kept an “equal weight” rating. The new target remains about 12.2% below the cited current price, which may temper enthusiasm despite the improved target. Wells Fargo price target update

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a biopharmaceutical company that develops, manufactures and markets injectable, inhalation and intranasal products. The company focuses on technically challenging medicines, including complex generics, proprietary products and products based on its drug-delivery technologies.

Its product portfolio includes Primatene MIST, an over-the-counter epinephrine inhaler; Baqsimi, a nasal glucagon product used to treat severe hypoglycemia; and injectable medicines such as glucagon, naloxone, enoxaparin and hyaluronidase.

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