Amphastar Pharmaceuticals Director Sells 3,000 Shares - What Does This Mean for Investors?
Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) director Floyd F. Petersen recently sold 3,000 shares of the company's common stock, totaling approximately $139,417. This sale was disclosed in a recent SEC filing, with shares sold at an average price of $46.4724. Petersen now holds 75,409 shares directly in the company.
Amphastar Pharmaceuticals is a company specializing in the development and marketing of generic and proprietary injectable, inhalation, and intranasal products. The recent sale by the director has caught the attention of investors, as insider transactions can provide insights into a company's future performance.
In addition to the director's sale, analysts have adjusted their outlook on Amphastar Pharmaceuticals following its second-quarter financial results. Jefferies reduced its price target to $55.00 but maintained a Buy rating, while Piper Sandler also adjusted its stock target to $66 from $71.
Amphastar's second-quarter results exceeded expectations, with a diluted non-GAAP EPS of $0.94 and revenue of $182.4 million. The company's recent acquisition of Baqsimi and FDA approval for its generic inhalation product, AMP-008, are expected to contribute positively to its financial performance.
Overall, Amphastar Pharmaceuticals is focusing on growth through strong product sales and new product launches. The potential for significant EBITDA growth, supported by products like Baqsimi and valuable complex generics, is expected to expand profit margins and drive robust growth.
In terms of financial performance, InvestingPro data shows that Amphastar has achieved significant revenue growth, with revenue reaching $712.89 million over the last twelve months as of Q2 2024. The company's gross profit margin of 55.06% reflects its efficiency in managing production costs relative to sales.
InvestingPro Tips highlight that Amphastar's management has been engaging in share buybacks, signaling confidence in the company's value. With a low P/E ratio of 13.21 and a PEG ratio of 0.21, the company's stock may be undervalued based on its earnings growth prospects.
For investors seeking more detailed analysis, additional InvestingPro Tips are available for Amphastar Pharmaceuticals on the specific InvestingPro page for the company. These tips can provide further insights into the company's performance and future potential.