Amphastar Pharmaceuticals, Inc. (AMPH) Receives Buy Rating from Wells Fargo & Company
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)‘s stock had its “buy” rating reiterated by equities research analysts at Wells Fargo & Company in a research note issued to investors on Saturday.
Several other equities research analysts have also recently commented on AMPH. Jefferies Group LLC set a $21.00 price target on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, April 20th. Zacks Investment Research lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Finally, TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $20.14.
Shares of Amphastar Pharmaceuticals (NASDAQ AMPH) traded up 2.96% during midday trading on Friday, hitting $18.45. 576,650 shares of the stock were exchanged. Amphastar Pharmaceuticals has a one year low of $12.05 and a one year high of $21.75. The firm has a 50 day moving average of $17.39 and a 200-day moving average of $15.99. The company has a market cap of $843.85 million, a price-to-earnings ratio of 97.11 and a beta of 1.68.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Monday, May 8th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Amphastar Pharmaceuticals had a return on equity of 2.69% and a net margin of 3.54%. The company had revenue of $56.67 million for the quarter, compared to analysts’ expectations of $63.74 million. During the same quarter last year, the company earned $0.12 EPS. Amphastar Pharmaceuticals’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities analysts expect that Amphastar Pharmaceuticals will post $0.40 EPS for the current year.
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In related news, Director Michael A. Zasloff sold 15,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $17.01, for a total transaction of $255,150.00. Following the transaction, the director now directly owns 47,411 shares in the company, valued at $806,461.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard K. Prins sold 10,000 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $17.07, for a total value of $170,700.00. Following the transaction, the director now owns 28,844 shares in the company, valued at $492,367.08. The disclosure for this sale can be found here. Insiders sold 43,982 shares of company stock worth $735,850 in the last three months. 11.10% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its position in Amphastar Pharmaceuticals by 77.2% in the second quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock worth $125,000 after buying an additional 3,072 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Amphastar Pharmaceuticals by 3.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock worth $119,000 after buying an additional 290 shares during the period. Mason Street Advisors LLC increased its position in Amphastar Pharmaceuticals by 7.0% in the first quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock worth $122,000 after buying an additional 549 shares during the period. Karp Capital Management Corp purchased a new position in Amphastar Pharmaceuticals during the first quarter worth approximately $193,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Amphastar Pharmaceuticals during the first quarter worth approximately $215,000. Hedge funds and other institutional investors own 45.32% 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, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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