Millennium Management LLC Boosts Stock Holdings in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Millennium Management LLC lifted its holdings in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Free Report) by 84.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 738,748 shares of the company's stock after acquiring an additional 338,653 shares during the period. Millennium Management LLC owned approximately 1.51% of Amphastar Pharmaceuticals worth $29,550,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Amphastar Pharmaceuticals by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 2,815,596 shares of the company's stock worth $174,145,000 after purchasing an additional 48,203 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Amphastar Pharmaceuticals by 67.4% during the second quarter. TD Asset Management Inc now owns 1,691,569 shares of the company's stock valued at $67,663,000 after buying an additional 680,976 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Amphastar Pharmaceuticals by 35.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company's stock valued at $43,154,000 after buying an additional 280,390 shares during the last quarter. American Century Companies Inc. increased its position in shares of Amphastar Pharmaceuticals by 19.7% in the 2nd quarter. American Century Companies Inc. now owns 740,408 shares of the company's stock valued at $29,616,000 after acquiring an additional 121,764 shares during the period. Finally, Boone Capital Management LLC purchased a new position in Amphastar Pharmaceuticals in the 4th quarter worth $24,740,000. Institutional investors and hedge funds own 65.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMPH shares. Needham & Company LLC reiterated a "hold" rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 8th. Piper Sandler dropped their target price on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Finally, StockNews.com raised shares of Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $63.00.

Amphastar Pharmaceuticals Stock Performance

Shares of AMPH stock traded down $0.18 on Thursday, hitting $46.32. The company had a trading volume of 221,384 shares, compared to its average volume of 405,303. Amphastar Pharmaceuticals, Inc. has a twelve month low of $36.56 and a twelve month high of $65.92. The company has a quick ratio of 2.63, a current ratio of 3.52 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.27 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 0.92 and a beta of 0.82. The company has a 50-day moving average price of $45.81 and a 200-day moving average price of $42.81.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.10. The company had revenue of $182.39 million during the quarter, compared to the consensus estimate of $171.29 million. Amphastar Pharmaceuticals had a return on equity of 29.79% and a net margin of 23.36%. As a group, equities research analysts predict that Amphastar Pharmaceuticals, Inc. will post 3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $46.47, for a total value of $139,410.00. Following the completion of the transaction, the director now owns 75,409 shares of the company's stock, valued at $3,504,256.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Rong Zhou sold 4,000 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, August 26th. The shares were sold at an average price of $48.35, for a total value of $193,400.00. Following the sale, the executive vice president now owns 118,388 shares of the company's stock, valued at approximately $5,724,059.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Floyd F. Petersen sold 3,000 shares of the business's 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 sale, the director now directly owns 75,409 shares of the company's stock, valued at approximately $3,504,256.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,383 shares of company stock valued at $1,524,123. Corporate insiders own 27.10% of the company's stock.

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.