Truist Financial Corp Trims Stock Holdings in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Truist Financial Corp reduced its stake in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 5.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,485 shares of the company’s stock after selling 895 shares during the quarter. Truist Financial Corp’s holdings in Amphastar Pharmaceuticals were worth $579,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMPH. Invst LLC grew its position in shares of Amphastar Pharmaceuticals by 101.3% during the 2nd quarter. Invst LLC now owns 11,638 shares of the company’s stock valued at $448,000 after acquiring an additional 5,857 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Amphastar Pharmaceuticals by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,246 shares of the company’s stock valued at $890,000 after acquiring an additional 954 shares during the period. Millennium Management LLC grew its position in shares of Amphastar Pharmaceuticals by 84.6% during the 2nd quarter. Millennium Management LLC now owns 738,748 shares of the company’s stock valued at $29,550,000 after acquiring an additional 338,653 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of Amphastar Pharmaceuticals during the 2nd quarter valued at about $265,000. Finally, Squarepoint Ops LLC grew its position in shares of Amphastar Pharmaceuticals by 10.4% during the 2nd quarter. Squarepoint Ops LLC now owns 90,552 shares of the company’s stock valued at $3,622,000 after acquiring an additional 8,501 shares during the period. 65.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 8th. Finally, StockNews.com lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.00.

Insider Buying and Selling

In related news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total value of $139,410.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction 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 directly owns 75,409 shares of the company’s stock, valued at approximately $3,504,256.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Rong Zhou sold 4,000 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, August 26th. The stock was sold at an average price of $48.35, for a total value of $193,400.00. Following the transaction, the executive vice president now directly owns 118,388 shares of the company’s stock, valued at approximately $5,724,059.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,383 shares of company stock worth $1,524,123 in the last quarter. 27.10% of the stock is owned by insiders.

Amphastar Pharmaceuticals Price Performance

AMPH stock opened at $49.31 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.52 and a quick ratio of 2.63. The firm has a market capitalization of $2.41 billion, a P/E ratio of 17.06, a P/E/G ratio of 0.88 and a beta of 0.83. The business’s 50-day moving average is $46.56 and its two-hundred day moving average is $42.99. Amphastar Pharmaceuticals, Inc. has a 1 year low of $36.56 and a 1 year high of $65.92.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.10. The business had revenue of $182.39 million for the quarter, compared to analyst estimates of $171.29 million. Amphastar Pharmaceuticals had a return on equity of 29.79% and a net margin of 23.36%. Analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 3.71 earnings per share for the current fiscal year.

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.