Amphastar Pharmaceuticals Inc (AMPH) Stock Rating Lowered by Zacks Investment Research
Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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. “
AMPH has been the topic of a number of other reports. Jefferies Group LLC set a $21.00 price objective on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, April 20th. BMO Capital Markets cut their price objective on shares of Amphastar Pharmaceuticals from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 14th. Piper Jaffray Companies cut their price objective on shares of Amphastar Pharmaceuticals from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 14th. Needham & Company LLC cut their price objective on shares of Amphastar Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, March 14th. Finally, Raymond James Financial, Inc. cut shares of Amphastar Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $21.00 to $18.00 in a research note on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $20.14.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down 0.06% during midday trading on Tuesday, hitting $15.79. The company’s stock had a trading volume of 317,673 shares. The company has a market cap of $724.92 million, a P/E ratio of 83.11 and a beta of 1.74. The company has a 50-day moving average price of $14.87 and a 200 day moving average price of $16.85. Amphastar Pharmaceuticals has a 1-year low of $12.05 and a 1-year high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $0.03. Amphastar Pharmaceuticals had a net margin of 7.75% and a return on equity of 6.79%. The company had revenue of $56.67 million for the quarter, compared to the consensus estimate of $63.74 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Amphastar Pharmaceuticals’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, equities research analysts predict that Amphastar Pharmaceuticals will post $0.40 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/05/16/amphastar-pharmaceuticals-inc-amph-stock-rating-lowered-by-zacks-investment-research.html.
In related news, Director Richard K. Prins sold 7,500 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $15.43, for a total transaction of $115,725.00. Following the transaction, the director now directly owns 30,500 shares of the company’s stock, valued at $470,615. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 29.30% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors boosted its position in shares of Amphastar Pharmaceuticals by 105.3% in the third quarter. BlackRock Fund Advisors now owns 3,085,037 shares of the company’s stock worth $58,523,000 after buying an additional 1,581,978 shares in the last quarter. Rothschild Asset Management Inc. bought a new position in shares of Amphastar Pharmaceuticals during the first quarter worth $9,056,000. Citadel Advisors LLC boosted its position in shares of Amphastar Pharmaceuticals by 1,823.3% in the first quarter. Citadel Advisors LLC now owns 355,566 shares of the company’s stock worth $5,156,000 after buying an additional 337,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Amphastar Pharmaceuticals by 68.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 800,900 shares of the company’s stock worth $14,753,000 after buying an additional 324,043 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Amphastar Pharmaceuticals during the fourth quarter worth $5,829,000. 49.09% of the stock is currently owned by hedge funds and other institutional investors.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Amphastar Pharmaceuticals Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphastar Pharmaceuticals Inc and related companies with MarketBeat.com's FREE daily email newsletter.