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Post by BD on Aug 6, 2014 14:47:05 GMT -5
I figured I'd nibble a bit on AMPH, on general principles, so I tried to put in an order for an opening position via my TDA web interface. It told me that I had to go through the broker.
So I called and did it through the broker, and also got an explanation for why they're making us jump through hoops. It even makes sense.
Apparently, a common tactic lately by less-than-scrupulous (mostly off-shore) market manipulators has been to find a thinly-traded stock that is seeing unusual action, and hack into people's brokerage accounts to put in orders at very high (or low, as the case may be) prices in order to mess with the bid-ask spread and manipulate the PPS.
In response to this, TDA and other brokers (so TDA says) have circled the wagons and come up with this approach, where if a stock is in that vulnerable situation (which apparently AMPH is right now), they'll all require clients to phone in their buy/sell orders live. They're waiving the usual live brokerage commission in these cases, so I just paid the same as I'd have paid for an electronic-only trade.
Just thought I'd share, as I hadn't encountered this situation before.
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Post by seanismorris on Aug 6, 2014 16:50:10 GMT -5
That's very interesting. I've also never experienced anything like that....
So, I looked up the stock on Yahoo, there is only one broker listed and a price target 1y of $32.50 (currently at $9.44). For a company 400M market cap, there's not a lot of people following it...
There may be an opportunity here. I'll have do do more research, but after the MNKD partner is specified I might pick up some shares also. I was expecting a high P/E but that's not the case. Why so cheap? They have a Conference call next Tuesday, I'm going to listen in.
Jul 21, 2014 Needham Initiated Buy
I'm not familiar with Needham, anyone know of them?
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Post by kc on Aug 6, 2014 17:15:11 GMT -5
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Post by garrett on Aug 6, 2014 17:56:24 GMT -5
Amphastar Pharmaceuticals - Delaware domestic corp filed on 05/19/04 filed as foreign corp in California on 07/22/04
Data is updated to the California Business Search on Wednesday and Saturday mornings. Results reflect work processed through Tuesday, August 05, 2014. Please refer to Processing Times for the received dates of filings currently being processed. The data provided is not a complete or certified record of an entity.
Entity Name: AMPHASTAR PHARMACEUTICALS, INC.
Entity Number: C2666434
Date Filed: 07/22/2004
Status: ACTIVE
Jurisdiction: DELAWARE
Entity Address: 11570 6TH ST
Entity City, State, Zip: RANCHO CUCAMONGA CA 91730
Agent for Service of Process: C T CORPORATION SYSTEM
Agent Address: 818 WEST SEVENTH ST 2ND FL
Agent City, State, Zip: LOS ANGELES CA 90017
* Indicates the information is not contained in the California Secretary of State's database.
If the status of the corporation is "Surrender," the agent for service of process is automatically revoked. Please refer to California Corporations Code section 2114 for information relating to service upon corporations that have surrendered.
For information on checking or reserving a name, refer to Name Availability.
For information on ordering certificates, copies of documents and/or status reports or to request a more extensive search, refer to Information Requests.
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Post by daduke38 on Aug 6, 2014 18:14:47 GMT -5
KC, Interesting thought, but didn't Merck own them until April?
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Post by mnholdem on Aug 6, 2014 18:26:21 GMT -5
Amphastar insider shares were also locked up for 180 days following the IPO, which is typical to prevent shares from flooding the market. The locked up period for Amphastar ends 12/22/14. Nobody likes to see insiders selling but they could release many more shares into the market.
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Post by kc on Aug 6, 2014 18:35:57 GMT -5
Merck sold the insulin to AMPH.
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Post by notatool on Aug 6, 2014 18:54:10 GMT -5
Help please. I was just looking at some relationships trying to examine supply chains, customer chains and partners. You all may already know this since I am new to the game but I came across Deerfield Management Company L.P. (specifically James E. Flynn) taking a 1.83 share position in AMPH on or about July 1, 2014. I looked further and Deerfield Private Design Fund II L.P. as well as the International II L.P. (Mannkind's Source) are under the same umbrella. Why (how ethically) did the other "arm" take a big stake in AMPH shortly after Afrezza FDA approval and near the time MNKD drew the last tranche? I am looking to see what else Deerfield suddenly took a bite of.
If I am repeating known information, please let me know.
THANKS
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