Chase Investment Counsel Corp Buys New Position in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Chase Investment Counsel Corp bought a new position in shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the company’s stock, valued at approximately $870,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMPH. Truist Financial Corp raised its holdings in shares of Amphastar Pharmaceuticals by 10.3% in the 4th quarter. Truist Financial Corp now owns 15,790 shares of the company’s stock worth $977,000 after purchasing an additional 1,480 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Amphastar Pharmaceuticals by 870.9% in the fourth quarter. Victory Capital Management Inc. now owns 237,474 shares of the company’s stock valued at $14,688,000 after buying an additional 213,014 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Amphastar Pharmaceuticals by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 379,480 shares of the company’s stock valued at $23,471,000 after acquiring an additional 27,102 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Amphastar Pharmaceuticals during the 4th quarter worth $34,000. Finally, Mesirow Institutional Investment Management Inc. grew its holdings in shares of Amphastar Pharmaceuticals by 37.6% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 252,831 shares of the company’s stock worth $15,638,000 after acquiring an additional 69,026 shares during the last quarter. 65.09% of the stock is currently owned by institutional investors.

Amphastar Pharmaceuticals Price Performance

Shares of Amphastar Pharmaceuticals stock remained flat at $46.90 during midday trading on Thursday. The stock had a trading volume of 15,457 shares, compared to its average volume of 408,561. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.92 and a beta of 0.79. Amphastar Pharmaceuticals, Inc. has a 1-year low of $36.56 and a 1-year high of $65.92. 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 company’s fifty day simple moving average is $42.47 and its 200-day simple moving average is $42.98.

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 during the quarter, compared to analyst estimates of $171.29 million. As a group, sell-side analysts predict that Amphastar Pharmaceuticals, Inc. will post 3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMPH shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Thursday, August 8th. StockNews.com raised shares of Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Piper Sandler dropped their target price on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and three have issued 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.

Insider Buying and Selling

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 3,596 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $40.93, for a total value of $147,184.28. Following the transaction, the chief financial officer now owns 94,103 shares in the company, valued at approximately $3,851,635.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 3,596 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $40.93, for a total value of $147,184.28. Following the transaction, the chief financial officer now owns 94,103 shares in the company, valued at $3,851,635.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Floyd F. Petersen sold 3,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $41.40, for a total value of $124,200.00. Following the completion of the transaction, the director now directly owns 78,409 shares in the company, valued at $3,246,132.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,979 shares of company stock worth $1,656,097. 27.10% of the stock is owned by company insiders.

About Amphastar Pharmaceuticals

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.