The Manufacturers Life Insurance Company Increases Stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

The Manufacturers Life Insurance Company grew its stake in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,246 shares of the company’s stock after purchasing an additional 954 shares during the period. The Manufacturers Life Insurance Company’s holdings in Amphastar Pharmaceuticals were worth $890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMPH. Innealta Capital LLC purchased a new stake in Amphastar Pharmaceuticals during the second quarter worth $55,000. Blue Trust Inc. raised its position in shares of Amphastar Pharmaceuticals by 23.9% in the second quarter. Blue Trust Inc. now owns 1,604 shares of the company’s stock worth $70,000 after acquiring an additional 309 shares during the period. nVerses Capital LLC boosted its stake in shares of Amphastar Pharmaceuticals by 37.5% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $88,000 after acquiring an additional 600 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Amphastar Pharmaceuticals during the 2nd quarter valued at about $93,000. Finally, EMC Capital Management acquired a new position in Amphastar Pharmaceuticals in the 1st quarter worth about $137,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

Insider Activity at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, Director Floyd F. Petersen sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $46.47, for a total value of $139,410.00. Following the transaction, the director now directly owns 75,409 shares in the company, valued at $3,504,256.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 10,282 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $44.23, for a total transaction of $454,772.86. Following the completion of the transaction, the chief financial officer now owns 94,103 shares of the company’s stock, valued at $4,162,175.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Floyd F. Petersen sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the completion of the transaction, the director now owns 75,409 shares in the company, valued at approximately $3,504,256.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,383 shares of company stock valued at $1,524,123. 27.10% of the stock is owned by company insiders.

Amphastar Pharmaceuticals Stock Up 2.8 %

Shares of NASDAQ AMPH opened at $47.57 on Monday. The company has a current ratio of 3.52, a quick ratio of 2.63 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of $46.38 and a 200 day moving average of $42.95. Amphastar Pharmaceuticals, Inc. has a 12-month low of $36.56 and a 12-month high of $65.92. The stock has a market cap of $2.33 billion, a PE ratio of 16.46, a P/E/G ratio of 0.88 and a beta of 0.83.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. Amphastar Pharmaceuticals had a return on equity of 29.79% and a net margin of 23.36%. The firm had revenue of $182.39 million for the quarter, compared to the consensus estimate of $171.29 million. As a group, sell-side analysts predict that Amphastar Pharmaceuticals, Inc. will post 3.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on AMPH. Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Thursday, August 8th. StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Piper Sandler cut their price objective on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Amphastar Pharmaceuticals Profile

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.