Boston Advisors LLC Buys 3,635 Shares of Amphastar Pharmaceuticals, Inc. (AMPH)
Boston Advisors LLC increased its stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 10.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,895 shares of the company’s stock after buying an additional 3,635 shares during the quarter. Boston Advisors LLC owned about 0.08% of Amphastar Pharmaceuticals worth $695,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Nationwide Fund Advisors boosted its holdings in Amphastar Pharmaceuticals by 11.9% in the second quarter. Nationwide Fund Advisors now owns 49,266 shares of the company’s stock valued at $880,000 after purchasing an additional 5,233 shares during the last quarter. Swiss National Bank boosted its holdings in Amphastar Pharmaceuticals by 5.3% in the first quarter. Swiss National Bank now owns 59,400 shares of the company’s stock valued at $861,000 after purchasing an additional 3,000 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in Amphastar Pharmaceuticals in the first quarter valued at about $215,000. Tudor Investment Corp ET AL boosted its holdings in Amphastar Pharmaceuticals by 33.9% in the first quarter. Tudor Investment Corp ET AL now owns 35,387 shares of the company’s stock valued at $513,000 after purchasing an additional 8,960 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Amphastar Pharmaceuticals by 7.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 218,080 shares of the company’s stock valued at $3,895,000 after purchasing an additional 14,646 shares during the last quarter. Institutional investors and hedge funds own 43.99% of the company’s stock.
AMPH has been the subject of a number of analyst reports. Zacks Investment Research raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, October 19th. Wells Fargo & Company reissued a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $19.00 price target (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a report on Friday, August 11th. Needham & Company LLC increased their price target on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $19.00 price target on shares of Amphastar Pharmaceuticals in a report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $20.29.
In related news, Director Richard K. Prins sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $14.81, for a total transaction of $148,100.00. Following the transaction, the director now directly owns 33,844 shares in the company, valued at $501,229.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard K. Prins sold 5,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $14.80, for a total value of $74,000.00. Following the transaction, the director now owns 33,844 shares in the company, valued at $500,891.20. The disclosure for this sale can be found here. Insiders have sold 154,038 shares of company stock worth $2,780,352 over the last 90 days. Corporate insiders own 11.10% of the company’s stock.
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Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) opened at 18.07 on Wednesday. Amphastar Pharmaceuticals, Inc. has a 12-month low of $12.05 and a 12-month high of $21.75. The company has a market cap of $834.74 million, a P/E ratio of 234.68 and a beta of 1.69. The firm’s 50-day moving average price is $17.72 and its 200-day moving average price is $16.64.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The firm had revenue of $65.20 million for the quarter, compared to analyst estimates of $63.40 million. During the same period in the previous year, the company posted $0.23 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts expect that Amphastar Pharmaceuticals, Inc. will post $0.27 EPS for the current year.
Amphastar Pharmaceuticals declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 9th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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