Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Gap Up to $42.21

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) shares gapped up prior to trading on Thursday . The stock had previously closed at $42.21, but opened at $45.56. Amphastar Pharmaceuticals shares last traded at $43.53, with a volume of 47,933 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMPH. StockNews.com cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Thursday. Finally, JPMorgan Chase & Co. started coverage on shares of Amphastar Pharmaceuticals in a research note on Tuesday, March 5th. They set an “overweight” rating and a $60.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $66.00.

Amphastar Pharmaceuticals Stock Performance

The company has a market cap of $2.07 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85. The firm has a 50-day simple moving average of $42.73 and a 200 day simple moving average of $50.69. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.92.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.03). The business had revenue of $178.11 million during the quarter, compared to analyst estimates of $174.90 million. Amphastar Pharmaceuticals had a net margin of 21.34% and a return on equity of 26.95%. On average, sell-side analysts predict that Amphastar Pharmaceuticals, Inc. will post 3.41 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael A. Zasloff sold 12,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $47.18, for a total value of $589,750.00. Following the transaction, the director now owns 21,326 shares in the company, valued at approximately $1,006,160.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 14,000 shares of company stock valued at $655,145. Insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several institutional investors have recently bought and sold shares of AMPH. YHB Investment Advisors Inc. acquired a new stake in shares of Amphastar Pharmaceuticals in the 1st quarter worth $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Amphastar Pharmaceuticals in the fourth quarter valued at about $28,000. Principal Securities Inc. purchased a new stake in Amphastar Pharmaceuticals in the 4th quarter valued at approximately $34,000. China Universal Asset Management Co. Ltd. increased its position in Amphastar Pharmaceuticals by 99.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,261 shares of the company’s stock worth $58,000 after purchasing an additional 628 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Amphastar Pharmaceuticals by 27.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,026 shares of the company’s stock worth $63,000 after buying an additional 223 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

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.