Amphastar Pharmaceuticals Inc. (AMPH) Lifted to Buy at Zacks Investment Research
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $21.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 9.55% from the company’s previous close.
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. “
Several other research firms also recently commented on AMPH. Needham & Company LLC boosted their target price on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. 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 research note on Wednesday, September 7th. BMO Capital Markets began coverage on shares of Amphastar Pharmaceuticals in a research note on Tuesday, June 28th. They set a “market perform” rating and a $17.00 price target on the stock. Finally, Jefferies Group upped their price target on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $20.00.
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Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down 2.64% during midday trading on Tuesday, hitting $19.17. 630,559 shares of the stock were exchanged. Amphastar Pharmaceuticals has a 12 month low of $10.50 and a 12 month high of $21.53. The firm has a 50 day moving average of $19.29 and a 200-day moving average of $16.18. The stock has a market cap of $864.97 million, a P/E ratio of 62.24 and a beta of 1.83.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results on Monday, August 8th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.01 by $0.22. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The firm had revenue of $68 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Amphastar Pharmaceuticals will post $0.37 EPS for the current year.
In other news, CFO William J. Peters sold 2,297 shares of the 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 sale, the chief financial officer now owns 64,652 shares of the company’s stock, valued at $1,148,219.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Floyd F. Petersen sold 3,000 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $19.05, for a total transaction of $57,150.00. Following the completion of the sale, the director now directly owns 60,317 shares in the company, valued at approximately $1,149,038.85. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in AMPH. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Amphastar Pharmaceuticals during the first quarter valued at $180,000. UBS Asset Management Americas Inc. increased its stake in shares of Amphastar Pharmaceuticals by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 277,294 shares of the company’s stock valued at $3,328,000 after buying an additional 25,095 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Amphastar Pharmaceuticals during the second quarter valued at $3,227,000. California State Teachers Retirement System increased its stake in shares of Amphastar Pharmaceuticals by 10.8% in the second quarter. California State Teachers Retirement System now owns 74,633 shares of the company’s stock valued at $1,203,000 after buying an additional 7,291 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in shares of Amphastar Pharmaceuticals by 236.0% in the second quarter. Essex Investment Management Co. LLC now owns 105,239 shares of the company’s stock valued at $1,696,000 after buying an additional 73,922 shares in the last quarter. 35.87% of the stock is currently owned by institutional investors and hedge funds.
About Amphastar Pharmaceuticals
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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