Legal & General Group Plc Invests $1.58 Million in Amphastar Pharmaceuticals, Inc. $AMPH

by · The Cerbat Gem

Legal & General Group Plc acquired a new position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 78,281 shares of the company’s stock, valued at approximately $1,580,000.

Several other large investors also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Amphastar Pharmaceuticals during the third quarter valued at approximately $32,000. Quantbot Technologies LP bought a new stake in shares of Amphastar Pharmaceuticals during the 2nd quarter valued at $39,000. TD Private Client Wealth LLC raised its holdings in Amphastar Pharmaceuticals by 410.1% in the 4th quarter. TD Private Client Wealth LLC now owns 2,418 shares of the company’s stock worth $65,000 after purchasing an additional 1,944 shares during the period. Quadrant Capital Group LLC purchased a new position in Amphastar Pharmaceuticals during the third quarter valued at $82,000. Finally, Tower Research Capital LLC TRC grew its holdings in Amphastar Pharmaceuticals by 263.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,583 shares of the company’s stock valued at $82,000 after purchasing an additional 2,596 shares during the period. 65.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMPH. Barclays raised their price objective on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, July 8th. Wells Fargo & Company increased their price objective on shares of Amphastar Pharmaceuticals from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Bank of America restated an “underperform” rating and set a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, June 29th. Finally, Wall Street Zen raised shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Six investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Amphastar Pharmaceuticals currently has an average rating of “Reduce” and a consensus price target of $22.50.

Get Our Latest Analysis on Amphastar Pharmaceuticals

Insider Activity at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, EVP Rong Zhou sold 3,187 shares of Amphastar Pharmaceuticals stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $23.63, for a total value of $75,308.81. Following the sale, the executive vice president directly owned 169,203 shares in the company, valued at approximately $3,998,266.89. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William Peters sold 8,180 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $22.48, for a total transaction of $183,886.40. Following the completion of the sale, the chief financial officer owned 172,846 shares in the company, valued at approximately $3,885,578.08. The trade was a 4.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 19,340 shares of company stock valued at $421,047. Corporate insiders own 29.60% of the company’s stock.

Amphastar Pharmaceuticals Price Performance

NASDAQ AMPH opened at $23.18 on Monday. Amphastar Pharmaceuticals, Inc. has a 12 month low of $16.65 and a 12 month high of $29.78. The company has a current ratio of 2.40, a quick ratio of 1.71 and a debt-to-equity ratio of 0.79. The stock has a market cap of $986.08 million, a PE ratio of 13.72, a P/E/G ratio of 4.47 and a beta of 0.92. The stock’s 50 day moving average is $20.51 and its 200 day moving average is $20.55.

Amphastar Pharmaceuticals (NASDAQ:AMPH – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.29. Amphastar Pharmaceuticals had a net margin of 10.76% and a return on equity of 14.98%. The firm had revenue of $183.90 million for the quarter, compared to analysts’ expectations of $179.92 million. Research analysts predict that Amphastar Pharmaceuticals, Inc. will post 2.46 EPS for the current fiscal year.

Amphastar Pharmaceuticals Profile

(Free Report)

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.

See Also

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