Amphastar Pharmaceuticals (NASDAQ:AMPH) Sets New 12-Month Low After Insider Selling

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shares hit a new 52-week low during trading on Monday after an insider sold shares in the company. The stock traded as low as $37.46 and last traded at $37.97, with a volume of 101995 shares traded. The stock had previously closed at $40.00.

Specifically, CFO William J. Peters sold 3,596 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $40.93, for a total value of $147,184.28. Following the sale, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $3,851,635.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Floyd F. Petersen sold 3,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $41.40, for a total value of $124,200.00. Following the completion of the sale, the director now owns 78,409 shares in the company, valued at $3,246,132.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William J. Peters sold 3,596 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $40.93, for a total value of $147,184.28. Following the completion of the sale, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $3,851,635.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,596 shares of company stock worth $313,544. Company insiders own 27.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, May 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $71.00 price objective on shares of Amphastar Pharmaceuticals in a research report on Thursday, June 27th. StockNews.com raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, JPMorgan Chase & Co. began coverage on Amphastar Pharmaceuticals in a research report on Tuesday, March 5th. They set an “overweight” rating and a $60.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Amphastar Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Amphastar Pharmaceuticals Stock Performance

The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.82 and a beta of 0.80. The stock has a 50-day moving average price of $41.58 and a 200-day moving average price of $47.62. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.18 and a quick ratio of 1.72.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. The company had revenue of $171.84 million for the quarter, compared to analyst estimates of $171.13 million. Amphastar Pharmaceuticals had a return on equity of 29.17% and a net margin of 22.88%. As a group, analysts forecast that Amphastar Pharmaceuticals, Inc. will post 3.6 earnings per share for the current year.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at $330,000. Qube Research & Technologies Ltd increased its stake in shares of Amphastar Pharmaceuticals by 1,561.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 102,324 shares of the company’s stock valued at $4,706,000 after purchasing an additional 96,167 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Amphastar Pharmaceuticals by 37.2% in the 3rd quarter. Lazard Asset Management LLC now owns 9,187 shares of the company’s stock valued at $422,000 after purchasing an additional 2,491 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Amphastar Pharmaceuticals by 44.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 554,850 shares of the company’s stock valued at $25,518,000 after purchasing an additional 171,642 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at $1,833,000. Institutional investors own 65.09% of the company’s stock.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.