Amphastar Pharmaceuticals, Inc. (AMPH) Lowered to Sell at ValuEngine
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Several other research firms also recently issued reports on AMPH. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “hold” rating and set a $16.00 price objective on shares of Amphastar Pharmaceuticals in a report on Monday, July 31st. Piper Jaffray Companies set a $20.00 price objective on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, July 29th. BidaskClub downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, TheStreet raised shares of Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, June 26th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.86.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded up 2.79% during mid-day trading on Tuesday, reaching $15.49. 318,939 shares of the company’s stock were exchanged. The company’s 50 day moving average is $16.78 and its 200 day moving average is $15.88. The stock has a market capitalization of $715.56 million, a PE ratio of 201.17 and a beta of 1.65. Amphastar Pharmaceuticals has a 1-year low of $12.05 and a 1-year high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. The firm had revenue of $65.20 million for the quarter, compared to the consensus estimate of $63.40 million. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that Amphastar Pharmaceuticals will post $0.27 EPS for the current fiscal year.
Amphastar Pharmaceuticals announced that its Board of Directors has approved a share buyback plan on Wednesday, August 9th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Richard K. Prins sold 5,000 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $14.80, for a total value of $74,000.00. Following the completion of the sale, the director now directly owns 33,844 shares in the company, valued at $500,891.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael A. Zasloff sold 15,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $17.01, for a total transaction of $255,150.00. Following the completion of the sale, the director now owns 47,411 shares of the company’s stock, valued at $806,461.11. The disclosure for this sale can be found here. Insiders sold 51,482 shares of company stock valued at $842,225 over the last quarter. Company insiders own 11.10% of the company’s stock.
Several large investors have recently modified their holdings of AMPH. Victory Capital Management Inc. boosted its stake in shares of Amphastar Pharmaceuticals by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock worth $100,000 after buying an additional 842 shares during the period. Acrospire Investment Management LLC boosted its stake 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 worth $109,000 after buying an additional 2,479 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Amphastar Pharmaceuticals during the second quarter worth approximately $111,000. Envestnet Asset Management Inc. acquired a new stake in shares of Amphastar Pharmaceuticals during the first quarter worth approximately $115,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of 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. Institutional investors and hedge funds own 43.83% 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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