Short Interest in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Declines By 5.5%

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPHGet Free Report) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 3,770,000 shares, a drop of 5.5% from the April 30th total of 3,990,000 shares. Based on an average daily trading volume, of 410,500 shares, the short-interest ratio is currently 9.2 days. Currently, 10.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

AMPH has been the subject of several research reports. StockNews.com upgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. JPMorgan Chase & Co. initiated coverage on shares of Amphastar Pharmaceuticals in a report on Tuesday, March 5th. They issued an “overweight” rating and a $60.00 price target on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amphastar Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Read Our Latest Stock Analysis on Amphastar Pharmaceuticals

Amphastar Pharmaceuticals Stock Performance

NASDAQ AMPH traded up $0.28 during mid-day trading on Monday, reaching $42.61. 217,914 shares of the stock were exchanged, compared to its average volume of 424,375. The company has a market capitalization of $2.08 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.72 and a current ratio of 2.18. The business’s 50 day moving average is $41.94 and its 200-day moving average is $50.06. Amphastar Pharmaceuticals has a 1 year low of $38.43 and a 1 year high of $67.66.

Amphastar Pharmaceuticals (NASDAQ:AMPHGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.20. Amphastar Pharmaceuticals had a net margin of 22.88% and a return on equity of 29.17%. The business had revenue of $171.84 million for the quarter, compared to analyst estimates of $171.13 million. On average, equities research analysts forecast that Amphastar Pharmaceuticals will post 3.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael A. Zasloff sold 12,500 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $47.18, for a total transaction of $589,750.00. Following the sale, the director now directly owns 21,326 shares of the company’s stock, valued at $1,006,160.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 13,500 shares of company stock valued at $632,300. Insiders own 27.10% of the company’s stock.

Institutional Trading of Amphastar Pharmaceuticals

Several institutional investors have recently bought and sold shares of AMPH. Invst LLC purchased a new position in shares of Amphastar Pharmaceuticals during the 1st quarter valued at approximately $251,000. EMC Capital Management purchased a new position in Amphastar Pharmaceuticals during the first quarter valued at $137,000. Hancock Whitney Corp grew its position in shares of Amphastar Pharmaceuticals by 58.4% in the first quarter. Hancock Whitney Corp now owns 6,107 shares of the company’s stock valued at $268,000 after purchasing an additional 2,252 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of Amphastar Pharmaceuticals by 35.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 112,428 shares of the company’s stock worth $4,937,000 after purchasing an additional 29,182 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its position in shares of Amphastar Pharmaceuticals by 34.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 798,462 shares of the company’s stock worth $35,060,000 after purchasing an additional 205,932 shares during the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

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