Amphastar Pharmaceuticals Inc. [AMPH] Stock trading around $46.30 per share: What’s Next?

Amphastar Pharmaceuticals Inc. [NASDAQ: AMPH] traded at a low on 09/13/23, posting a -0.73 loss after which it closed the day’ session at $46.30. The company report on September 13, 2023 at 12:37 AM that Amphastar Pharmaceuticals Announces Pricing of Offering of $300.0 Million of Convertible Senior Notes.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) (“Amphastar”) today announced the pricing of $300.0 million aggregate principal amount of 2.00% convertible senior notes due 2029 (the “notes”) in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Amphastar also granted the initial purchasers of the notes an option to purchase up to an additional $45.0 million aggregate principal amount of the notes. The sale of the notes is expected to close on September 15, 2023, subject to customary closing conditions.

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The notes will be general senior, unsecured obligations of Amphastar and will accrue interest at a rate of 2.00% per year. Interest will be payable semi-annually in arrears on March 15 and September 15 of each year, beginning on March 15, 2024. The notes will mature on March 15, 2029, unless earlier converted, repurchased or redeemed. The initial conversion rate will be 15.8821 shares of Amphastar’s common stock (“common stock”) per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $62.96 per share of common stock). The initial conversion price of the notes represents a premium of approximately 35.00% over the last reported sale price of Amphastar’s common stock on Nasdaq Global Select Market on September 12, 2023. Conversions of the notes will be settled in cash up to the aggregate principal amount of the notes to be converted, and cash, shares of common stock or a combination of cash and shares of common stock, at Amphastar’s election, with respect to the remainder, if any, of Amphastar’s conversion obligation in excess of the aggregate principal amount of the notes being converted, if any.

The results of the trading session contributed to over 4274405 shares changing hands. Over the past one week, the price volatility of Amphastar Pharmaceuticals Inc. stands at 4.29% while the volatility over the past one month is 3.83%.

The market cap for AMPH stock reached $2.32 billion, with 48.40 million shares outstanding and 38.22 million shares in the current float. Compared to the average trading volume of 441.00K shares, AMPH reached a trading volume of 4274405 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Amphastar Pharmaceuticals Inc. [AMPH]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMPH shares is $69.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMPH stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Amphastar Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 25, 2023.

The Average True Range (ATR) for Amphastar Pharmaceuticals Inc. is set at 2.33, with the Price to Sales ratio for AMPH stock in the period of the last 12 months amounting to 4.29. The Price to Book ratio for the last quarter was 3.80, with the Price to Cash per share for the same quarter was set at 3.26. Price to Free Cash Flow for AMPH in the course of the last twelve months was 23.09 with Quick ratio for the last quarter at 1.10.

How has AMPH stock performed recently?

Amphastar Pharmaceuticals Inc. [AMPH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.01. With this latest performance, AMPH shares dropped by -14.37% in over the last four-week period, additionally plugging by 24.46% over the last 6 months – not to mention a rise of 59.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMPH stock in for the last two-week period is set at 30.84, with the RSI for the last a single of trading hit 26.04, and the three-weeks RSI is set at 35.12 for Amphastar Pharmaceuticals Inc. [AMPH]. The present Moving Average for the last 50 days of trading for this stock 56.51, while it was recorded at 49.11 for the last single week of trading, and 41.93 for the last 200 days.

Amphastar Pharmaceuticals Inc. [AMPH]: Deeper insight into the fundamentals

Amphastar Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.50.

Earnings analysis for Amphastar Pharmaceuticals Inc. [AMPH]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMPH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Amphastar Pharmaceuticals Inc. go to 25.00%.

Insider trade positions for Amphastar Pharmaceuticals Inc. [AMPH]

The top three institutional holders of AMPH stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in AMPH stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in AMPH stock with ownership which is approximately 5.7381%.

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