Amphastar Pharmaceuticals (NASDAQ:AMPH) Hits New 1-Year Low on Insider Selling

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s stock price hit a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The company 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, Director Floyd F. Petersen sold 3,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $41.40, for a total transaction of $124,200.00. Following the sale, the director now owns 78,409 shares in the company, valued at $3,246,132.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO William J. Peters sold 3,596 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $40.93, for a total transaction 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 $3,851,635.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals 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 sale, the director now directly owns 78,409 shares of the company’s stock, valued at approximately $3,246,132.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,596 shares of company stock worth $313,544. Insiders own 27.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AMPH. StockNews.com raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Piper Sandler reissued an “overweight” rating and issued a $71.00 price target on shares of Amphastar Pharmaceuticals in a report on Thursday, June 27th. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. assumed coverage on Amphastar Pharmaceuticals in a research report on Tuesday, March 5th. They issued 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Amphastar Pharmaceuticals Price Performance

The company has a quick ratio of 1.72, a current ratio of 2.18 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.84 billion, a PE ratio of 13.00, a PEG ratio of 0.82 and a beta of 0.80. The stock has a 50-day moving average price of $41.51 and a 200 day moving average price of $47.48.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.73 by $0.20. The firm had revenue of $171.84 million during the quarter, compared to analysts’ expectations of $171.13 million. Amphastar Pharmaceuticals had a return on equity of 29.17% and a net margin of 22.88%. Equities analysts forecast that Amphastar Pharmaceuticals, Inc. will post 3.6 EPS for the current fiscal year.

Institutional Trading of Amphastar Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at $330,000. Qube Research & Technologies Ltd lifted 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 lifted 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. lifted its stake in Amphastar Pharmaceuticals by 44.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 554,850 shares of the company’s stock worth $25,518,000 after acquiring an additional 171,642 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter worth about $1,833,000. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Company Profile

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.