Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Position Reduced by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) by 74.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,670 shares of the company’s stock after selling 261,600 shares during the period. Prudential Financial Inc.’s holdings in Amphastar Pharmaceuticals were worth $1,286,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of Amphastar Pharmaceuticals by 6.2% in the fourth quarter. State Street Corp now owns 955,991 shares of the company’s stock worth $17,610,000 after buying an additional 55,688 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Amphastar Pharmaceuticals by 68.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 800,900 shares of the company’s stock worth $14,753,000 after buying an additional 324,043 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Amphastar Pharmaceuticals by 0.3% in the fourth quarter. Teachers Advisors LLC now owns 542,953 shares of the company’s stock worth $10,001,000 after buying an additional 1,693 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Amphastar Pharmaceuticals by 11.4% in the first quarter. Bank of New York Mellon Corp now owns 519,802 shares of the company’s stock worth $7,536,000 after buying an additional 53,214 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Amphastar Pharmaceuticals by 1.0% in the first quarter. JPMorgan Chase & Co. now owns 517,900 shares of the company’s stock worth $7,510,000 after buying an additional 5,127 shares in the last quarter. 45.43% of the stock is owned by institutional investors.

Shares of Amphastar Pharmaceuticals, Inc. (AMPH) opened at 17.56 on Friday. Amphastar Pharmaceuticals, Inc. has a 12 month low of $12.05 and a 12 month high of $21.75. The stock’s 50 day moving average is $17.51 and its 200 day moving average is $15.97. The firm has a market cap of $803.14 million, a PE ratio of 92.42 and a beta of 1.68.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $56.67 million during the quarter, compared to the consensus estimate of $63.74 million. Amphastar Pharmaceuticals had a net margin of 3.54% and a return on equity of 2.69%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. Analysts forecast that Amphastar Pharmaceuticals, Inc. will post $0.40 EPS for the current fiscal year.

AMPH has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Saturday, July 22nd. TheStreet raised shares of Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, June 26th. BidaskClub downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Jefferies Group LLC lowered their price target on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.14.

In related news, Director Michael A. Zasloff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $17.01, for a total value of $255,150.00. Following the completion of the transaction, the director now owns 47,411 shares in the company, valued at approximately $806,461.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard K. Prins sold 10,000 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $17.07, for a total transaction of $170,700.00. Following the sale, the director now directly owns 28,844 shares of the company’s stock, valued at approximately $492,367.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,982 shares of company stock valued at $735,850. 11.10% of the stock is owned by company insiders.

About Amphastar Pharmaceuticals

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.