Amphastar Pharmaceuticals, Inc. (AMPH) Receives Average Rating of “Hold” from Analysts
Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) have received a consensus rating of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.00.
A number of brokerages recently issued reports on AMPH. Piper Jaffray Companies set a $20.00 price target on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, July 29th. BidaskClub downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BMO Capital Markets reissued a “hold” rating and set a $16.00 price target on shares of Amphastar Pharmaceuticals in a research report on Monday, July 31st. ValuEngine downgraded Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $19.00 price target (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a research report on Friday, August 11th.
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Shares of Amphastar Pharmaceuticals (NASDAQ AMPH) traded down 0.32% during mid-day trading on Friday, reaching $15.73. The company had a trading volume of 303,542 shares. The firm’s 50 day moving average is $15.66 and its 200-day moving average is $15.80. Amphastar Pharmaceuticals has a 12-month low of $12.05 and a 12-month high of $21.75. The stock has a market capitalization of $726.65 million, a P/E ratio of 204.29 and a beta of 1.66.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.05. The company had revenue of $65.20 million for the quarter, compared to analyst estimates of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. On average, analysts expect that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals announced that its Board of Directors has initiated a share buyback program on Wednesday, August 9th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $14.80, for a total value of $74,000.00. Following the sale, the director now owns 33,844 shares of the company’s stock, valued at approximately $500,891.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $14.81, for a total value of $148,100.00. Following the completion of the sale, the director now directly owns 33,844 shares in the company, valued at approximately $501,229.64. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in shares of Amphastar Pharmaceuticals by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock valued at $100,000 after purchasing an additional 842 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at $111,000. State of Alaska Department of Revenue boosted its holdings in shares of Amphastar Pharmaceuticals by 77.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock valued at $125,000 after purchasing an additional 3,072 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Amphastar Pharmaceuticals by 3.7% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock valued at $119,000 after purchasing an additional 290 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock valued at $122,000 after purchasing an additional 549 shares in the last quarter. 44.51% 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.
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