Zhou Rong, Senior Executive Vice President of Production Center at Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH), a $2 billion market cap pharmaceutical company currently trading at an attractive P/E ratio of 12.6, recently sold shares of the company in two separate transactions, according to a recent SEC filing. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimates. On December 12, Rong sold 7,000 shares at a price of $44.425 each, and on December 13, an additional 8,000 shares were sold at $45.23 per share. The total value of these sales amounted to approximately $672,815.
These transactions followed the exercise of stock options, where Rong acquired 7,000 shares on December 12 and 8,000 shares on December 13, at an exercise price of $11.33 per share. After these transactions, Rong's direct ownership in Amphastar stands at 118,469 shares. Additionally, Rong holds shares through indirect ownership, including shares held by the Zhou Family Trust and shares owned by Rong's spouse.
In other recent news, Amphastar Pharmaceuticals has been the subject of significant attention from both financial analysts and investors. Wells Fargo (NYSE:WFC) initiated coverage on the pharmaceutical company with an Overweight rating, indicating a positive outlook for the company's growth. The financial institution anticipates Amphastar will launch two to three new products within the next year, potentially expanding its commercial portfolio by more than 50%.
In addition to this, Wells Fargo suggests that 2025 could be a pivotal year for Amphastar, as the company's pipeline appears to be undervalued by the market. This aligns with Amphastar's recent third-quarter earnings call, during which the company's management provided an outlook for future periods. The team, led by Dan Dischner, Senior Vice President of Corporate Communications, Bill Peters, CFO and Executive Vice President of Finance, and Tony Marrs, Executive Vice President of Regulatory Affairs and Clinical Operations, made forward-looking statements based on currently available information.
The discussion also included non-GAAP measures, indicating a focus on providing investors with a clear understanding of the company's financials beyond standard accounting practices. These recent developments underscore the potential for significant growth in the near future for Amphastar Pharmaceuticals.
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