Cadence Capital Management LLC decreased its position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 41.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,903 shares of the company’s stock after selling 16,265 shares during the quarter. Cadence Capital Management LLC’s holdings in Amphastar Pharmaceuticals were worth $409,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AMPH. Dimensional Fund Advisors LP boosted its stake in Amphastar Pharmaceuticals by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock worth $23,786,000 after purchasing an additional 270,654 shares during the period. Vanguard Group Inc. boosted its stake in Amphastar Pharmaceuticals by 10.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock worth $43,128,000 after purchasing an additional 235,033 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Amphastar Pharmaceuticals by 143.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 362,947 shares of the company’s stock worth $6,482,000 after purchasing an additional 213,572 shares during the period. Citigroup Inc. boosted its stake in Amphastar Pharmaceuticals by 295.1% in the 2nd quarter. Citigroup Inc. now owns 221,729 shares of the company’s stock worth $3,960,000 after purchasing an additional 165,613 shares during the period. Finally, State Street Corp boosted its stake in Amphastar Pharmaceuticals by 11.1% in the 1st quarter. State Street Corp now owns 1,062,439 shares of the company’s stock worth $15,406,000 after purchasing an additional 106,448 shares during the period. Institutional investors own 44.14% of the company’s stock.
Several research analysts have commented on AMPH shares. Piper Jaffray Companies set a $19.00 target price on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group set a $19.00 target price on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, October 29th. Needham & Company LLC raised their target price on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, October 19th. Finally, Raymond James Financial downgraded Amphastar Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Amphastar Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $20.86.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. The firm had revenue of $57.90 million during the quarter, compared to the consensus estimate of $57.23 million. Amphastar Pharmaceuticals had a return on equity of 2.30% and a net margin of 0.12%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 EPS. sell-side analysts forecast that Amphastar Pharmaceuticals, Inc. will post -0.03 earnings per share for the current year.
Amphastar Pharmaceuticals declared that its Board of Directors has authorized a share buyback 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, EVP Diane G. Gerst sold 8,444 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $18.87, for a total transaction of $159,338.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO William J. Peters sold 6,226 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $19.67, for a total value of $122,465.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,666 shares of company stock valued at $3,451,064. Corporate insiders own 11.10% of the company’s stock.
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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, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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