Amphastar Pharmaceuticals (AMPH) Sees Large Volume Increase on Better-Than-Expected Earnings

Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) shares saw unusually-high trading volume on Friday following a better than expected earnings announcement. Approximately 24,219 shares traded hands during trading, a decline of 79% from the previous session’s volume of 117,121 shares.The stock last traded at $21.10 and had previously closed at $20.71.

The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Amphastar Pharmaceuticals had a positive return on equity of 2.15% and a negative net margin of 3.39%. The firm had revenue of $75.54 million for the quarter, compared to analyst estimates of $76.84 million. During the same period last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis.

A number of research analysts have recently commented on the company. BidaskClub lowered Amphastar Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 13th. Needham & Company LLC lowered their price target on Amphastar Pharmaceuticals from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 10th. ValuEngine raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Wells Fargo & Co reissued a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Friday. Finally, Zacks Investment Research raised Amphastar Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Amphastar Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $23.00.

In related news, General Counsel Jason B. Shandell sold 16,095 shares of Amphastar Pharmaceuticals stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $20.99, for a total transaction of $337,834.05. Following the transaction, the general counsel now directly owns 204,805 shares of the company’s stock, valued at $4,298,856.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $17.82, for a total value of $178,200.00. The disclosure for this sale can be found here. Insiders have sold 28,502 shares of company stock worth $558,373 over the last three months. Corporate insiders own 31.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AMPH. Piedmont Investment Advisors LLC acquired a new position in Amphastar Pharmaceuticals during the second quarter worth about $128,000. Meeder Asset Management Inc. grew its holdings in Amphastar Pharmaceuticals by 259.8% during the second quarter. Meeder Asset Management Inc. now owns 10,486 shares of the company’s stock worth $160,000 after acquiring an additional 7,572 shares during the period. SG Americas Securities LLC acquired a new position in Amphastar Pharmaceuticals during the second quarter worth about $161,000. Nisa Investment Advisors LLC acquired a new position in Amphastar Pharmaceuticals during the third quarter worth about $221,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Amphastar Pharmaceuticals during the second quarter worth about $295,000. 42.86% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 0.11. The stock has a market cap of $889.51 million, a price-to-earnings ratio of 56.82, a price-to-earnings-growth ratio of 8.77 and a beta of 1.38.

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Amphastar Pharmaceuticals Company Profile (NASDAQ:AMPH)

Amphastar Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States and internationally. It operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients.

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