Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock Price Passes Above 50-Day Moving Average - Should You Sell?

Key Points

• Amphastar shares moved above their 50-day moving average, trading as high as $21.97 and most recently at $21.88, compared with the moving average of $20.16.
• Analyst sentiment remains cautious: six analysts rate the stock a Hold and two rate it Sell, producing a consensus “Reduce” rating and a $22.50 target price.
• The company exceeded quarterly expectations, reporting $0.91 EPS versus the $0.62 consensus and revenue of $183.9 million versus $179.92 million; however, company insiders recently sold shares.

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $20.16 and traded as high as $21.97. Amphastar Pharmaceuticals shares last traded at $21.88, with a volume of 259,782 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on AMPH shares. Wall Street Zen upgraded shares of Amphastar Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Amphastar Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Amphastar Pharmaceuticals in a research report on Friday, May 8th. Wells Fargo & Company increased their target price on shares of Amphastar Pharmaceuticals from $19.00 to $20.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Finally, Piper Sandler cut their price target on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $22.50.

Amphastar Pharmaceuticals Stock Down 0.6%

The firm has a market capitalization of $930.78 million, a PE ratio of 12.95, a PEG ratio of 4.24 and a beta of 0.89. The business's fifty day moving average price is $20.16 and its 200 day moving average price is $20.78. The company has a quick ratio of 1.71, a current ratio of 2.40 and a debt-to-equity ratio of 0.79.

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, topping analysts' consensus estimates of $0.62 by $0.29. The firm had revenue of $183.90 million for 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 forecast that Amphastar Pharmaceuticals, Inc. will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Amphastar Pharmaceuticals

In other news, Director Richard K. Prins sold 7,973 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $20.30, for a total transaction of $161,851.90. Following the completion of the sale, the director owned 29,625 shares in the company, valued at $601,387.50. This represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William J. Peters sold 8,180 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $22.48, for a total value of $183,886.40. Following the sale, the chief financial officer directly owned 172,846 shares of the company's stock, valued at approximately $3,885,578.08. This represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 29.60% of the company's stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $32,000. Farther Finance Advisors LLC lifted its stake in shares of Amphastar Pharmaceuticals by 46.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company's stock worth $37,000 after acquiring an additional 437 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Amphastar Pharmaceuticals in the second quarter valued at about $39,000. TD Private Client Wealth LLC increased its stake in shares of Amphastar Pharmaceuticals by 410.1% during the fourth quarter. TD Private Client Wealth LLC now owns 2,418 shares of the company's stock worth $65,000 after acquiring an additional 1,944 shares during the period. Finally, Quadrant Capital Group LLC purchased a new position in Amphastar Pharmaceuticals during the third quarter worth about $82,000. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

About Amphastar Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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