Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 3,368,202 shares, an increase of 81.3% from the September 15th total of 1,858,106 shares. Approximately 9.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,414,810 shares, the short-interest ratio is presently 2.4 days.
Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 18.34 on Friday. Amphastar Pharmaceuticals has a 12-month low of $10.50 and a 12-month high of $21.53. The firm has a market capitalization of $827.52 million, a price-to-earnings ratio of 59.55 and a beta of 1.83. The stock has a 50 day moving average of $19.21 and a 200 day moving average of $16.21.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The business earned $68 million during the quarter, compared to the consensus estimate of $62.10 million. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. Amphastar Pharmaceuticals’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.09) EPS. Equities research analysts anticipate that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current year.
In related news, CEO Jack Y. Zhang sold 444,199 shares of Amphastar Pharmaceuticals stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $21.03, for a total value of $9,341,504.97. Following the sale, the chief executive officer now directly owns 1,295,685 shares in the company, valued at approximately $27,248,255.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William J. Peters sold 2,297 shares of Amphastar Pharmaceuticals stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $17.76, for a total value of $40,794.72. Following the completion of the sale, the chief financial officer now owns 64,652 shares in the company, valued at $1,148,219.52. The disclosure for this sale can be found here. 29.30% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of AMPH. Acrospire Investment Management LLC increased its stake in Amphastar Pharmaceuticals by 57.5% in the second quarter. Acrospire Investment Management LLC now owns 6,791 shares of the company’s stock valued at $109,000 after buying an additional 2,479 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Amphastar Pharmaceuticals during the first quarter valued at about $180,000. Atria Investments LLC purchased a new stake in Amphastar Pharmaceuticals during the third quarter valued at about $190,000. C M Bidwell & Associates Ltd. purchased a new stake in Amphastar Pharmaceuticals during the second quarter valued at about $207,000. Finally, Simplex Trading LLC purchased a new stake in Amphastar Pharmaceuticals during the third quarter valued at about $277,000. 35.87% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on AMPH shares. Piper Jaffray Cos. restated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Amphastar Pharmaceuticals in a report on Wednesday, September 7th. Zacks Investment Research cut Amphastar Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC lifted their price target on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. BMO Capital Markets initiated coverage on shares of Amphastar Pharmaceuticals in a research report on Tuesday, June 28th. They set a “market perform” rating and a $17.00 price target on the stock. Finally, Jefferies Group lifted their price target on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Amphastar Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $20.00.
Amphastar Pharmaceuticals Company Profile
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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