Zacks Investment Research Lowers Amphastar Pharmaceuticals Inc. (AMPH) to Hold
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note 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. “
A number of other research firms have also recently weighed in on AMPH. Piper Jaffray Cos. reaffirmed 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. BMO Capital Markets assumed coverage on Amphastar Pharmaceuticals in a report on Tuesday, June 28th. They set a “market perform” rating and a $17.00 price target on the stock. Needham & Company LLC lifted their price target on Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Finally, Jefferies Group lifted their price target on Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.00.
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Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded up 1.03% during midday trading on Monday, reaching $19.69. The company’s stock had a trading volume of 311,932 shares. The stock’s 50 day moving average is $19.31 and its 200 day moving average is $16.16. The stock has a market capitalization of $888.43 million, a PE ratio of 63.93 and a beta of 1.83. Amphastar Pharmaceuticals has a 12 month low of $10.50 and a 12 month high of $21.53.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Monday, August 8th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.22. The company had revenue of $68 million for the quarter, compared to analysts’ expectations of $62.10 million. Amphastar Pharmaceuticals had a return on equity of 4.71% and a net margin of 5.19%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share. On average, analysts forecast that Amphastar Pharmaceuticals will post $0.37 EPS for the current fiscal year.
In other Amphastar Pharmaceuticals news, President Jason B. Shandell sold 5,636 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $18.01, for a total value of $101,504.36. Following the transaction, the president now owns 208,948 shares of the company’s stock, valued at $3,763,153.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $40,794.72. Following the completion of the transaction, the chief financial officer now directly owns 64,652 shares in the company, valued at approximately $1,148,219.52. The disclosure for this sale can be found here. Corporate insiders own 29.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its position in Amphastar Pharmaceuticals by 1.4% in the second quarter. ProShare Advisors LLC now owns 37,737 shares of the company’s stock valued at $608,000 after buying an additional 524 shares in the last quarter. American International Group Inc. boosted its position in Amphastar Pharmaceuticals by 10.1% in the second quarter. American International Group Inc. now owns 20,489 shares of the company’s stock valued at $330,000 after buying an additional 1,882 shares in the last quarter. Strs Ohio boosted its position in Amphastar Pharmaceuticals by 5.3% in the second quarter. Strs Ohio now owns 47,900 shares of the company’s stock valued at $772,000 after buying an additional 2,400 shares in the last quarter. Acrospire Investment Management LLC boosted its position in 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 in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Amphastar Pharmaceuticals by 11.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 26,305 shares of the company’s stock valued at $424,000 after buying an additional 2,637 shares in the last quarter. 35.87% of the stock is currently owned by institutional investors.
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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