Amphastar Pharmaceuticals Inc. (AMPH) Downgraded by Zacks Investment Research to Hold
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Amphastar Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses primarily on developing, manufacturing, marketing, and selling generic and proprietary injectable and inhalation products. The company products include Enoxaparin Sodium Injection; Amphadase; Cortrosyn for Injection; and prefilled disposable emergency syringes for crash cart use. Amphastar Pharmaceuticals, Inc. is headquartered in Rancho Cucamonga, California. “
Other research analysts have also recently issued research reports about the stock. Needham & Company LLC lifted their price objective on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Jefferies Group lifted their price objective on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. BMO Capital Markets restated a “hold” rating and issued a $17.00 price objective on shares of Amphastar Pharmaceuticals in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $23.00 price target (up previously from $22.00) on shares of Amphastar Pharmaceuticals in a report on Wednesday, September 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.00.
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Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded up 1.03% on Monday, hitting $19.69. 311,932 shares of the company traded hands. The stock’s 50-day moving average price is $19.31 and its 200-day moving average price is $16.16. Amphastar Pharmaceuticals has a 12 month low of $10.50 and a 12 month high of $21.53. The company has a market capitalization of $888.43 million, a PE ratio of 63.93 and a beta of 1.83.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.22. The firm earned $68 million during the quarter, compared to analysts’ expectations of $62.10 million. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, equities analysts predict that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current year.
In other news, EVP Diane G. Gerst sold 24,046 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $19.28, for a total value of $463,606.88. Following the completion of the transaction, the executive vice president now owns 39,031 shares in the company, valued at approximately $752,517.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William J. Peters sold 2,297 shares of the company’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $17.76, for a total transaction of $40,794.72. Following the completion of the transaction, the chief financial officer now owns 64,652 shares of the company’s stock, valued at approximately $1,148,219.52. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its position in shares of Amphastar Pharmaceuticals by 57.5% in the second quarter. Acrospire Investment Management LLC now owns 6,791 shares of the company’s stock valued at $109,000 after buying an additional 2,479 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Amphastar Pharmaceuticals during the first quarter valued at about $180,000. C M Bidwell & Associates Ltd. bought a new position in shares of Amphastar Pharmaceuticals during the second quarter valued at about $207,000. Simplex Trading LLC bought a new position in shares of Amphastar Pharmaceuticals during the third quarter valued at about $277,000. Finally, Bank of Montreal Can bought a new position in shares of Amphastar Pharmaceuticals during the second quarter valued at about $292,000. Institutional investors and hedge funds own 35.87% of the company’s stock.
Amphastar Pharmaceuticals Company Profile
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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