Amphastar Pharmaceuticals (AMPH) Sees Strong Trading Volume Following Better-Than-Expected Earnings

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Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) saw unusually-strong trading volume on Friday following a better than expected earnings announcement. Approximately 24,219 shares were traded during mid-day 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Amphastar Pharmaceuticals had a negative net margin of 3.39% and a positive return on equity of 2.15%. The business had revenue of $75.54 million during the quarter, compared to analysts’ expectations of $76.84 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The firm’s revenue was up 30.5% on a year-over-year basis.

A number of brokerages have commented on AMPH. Wells Fargo & Co reiterated a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Friday. BidaskClub upgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Needham & Company LLC cut their price target on shares of Amphastar Pharmaceuticals from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 10th. Finally, ValuEngine upgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Three 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 company. The company presently has a consensus rating of “Buy” and an average target price of $21.40.

In other news, CFO William J. Peters sold 2,407 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $17.59, for a total transaction of $42,339.13. Following the completion of the sale, the chief financial officer now owns 86,836 shares in the company, valued at approximately $1,527,445.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $17.82, for a total transaction of $178,200.00. The disclosure for this sale can be found here. Company insiders own 31.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Amphastar Pharmaceuticals by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 418,903 shares of the company’s stock worth $8,060,000 after buying an additional 10,837 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Amphastar Pharmaceuticals during the 3rd quarter worth about $620,000. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Amphastar Pharmaceuticals by 6.4% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 152,300 shares of the company’s stock worth $2,930,000 after buying an additional 9,200 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Amphastar Pharmaceuticals by 22.2% during the 3rd quarter. Wells Fargo & Company MN now owns 241,037 shares of the company’s stock worth $4,638,000 after buying an additional 43,727 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Amphastar Pharmaceuticals during the 3rd quarter worth about $221,000. Institutional investors own 42.86% of the company’s stock.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.24 and a current ratio of 1.94. The company has a market capitalization of $889.51 million, a PE ratio of 55.86, a PEG 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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