$56.54 Million in Sales Expected for Amphastar Pharmaceuticals, Inc. (AMPH) This Quarter
Equities analysts expect Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) to announce sales of $56.54 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Amphastar Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $56.20 million and the highest estimate coming in at $56.87 million. Amphastar Pharmaceuticals reported sales of $64.22 million in the same quarter last year, which indicates a negative year-over-year growth rate of 12%. The business is expected to report its next earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that Amphastar Pharmaceuticals will report full-year sales of $56.54 million for the current fiscal year, with estimates ranging from $236.90 million to $260.78 million. For the next fiscal year, analysts expect that the company will post sales of $327.66 million per share, with estimates ranging from $306.00 million to $346.77 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Amphastar Pharmaceuticals.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The company had revenue of $65.20 million during the quarter, compared to analysts’ expectations of $63.40 million. During the same period last year, the firm posted $0.23 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis.
Several equities analysts have recently issued reports on AMPH shares. TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. Piper Jaffray Companies set a $20.00 target price on Amphastar Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, July 29th. BMO Capital Markets reaffirmed a “hold” rating and issued a $16.00 target price on shares of Amphastar Pharmaceuticals in a report on Monday, July 31st. Finally, BidaskClub lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $19.86.
Amphastar Pharmaceuticals (NASDAQ AMPH) traded down 0.32% during mid-day trading on Friday, hitting $15.73. The stock had a trading volume of 303,542 shares. Amphastar Pharmaceuticals has a 1-year low of $12.05 and a 1-year high of $21.75. The firm’s 50-day moving average price is $15.66 and its 200-day moving average price is $15.80. The stock has a market cap of $726.66 million, a PE ratio of 196.62 and a beta of 1.66.
Amphastar Pharmaceuticals announced that its board has initiated a stock repurchase 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 stock through open market purchases. Stock buyback programs are typically an indication 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 stock in a transaction on Monday, August 14th. The stock was sold at an average price of $14.80, for a total transaction of $74,000.00. Following the sale, the director now owns 33,844 shares in the company, valued at $500,891.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard K. Prins sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $14.81, for a total value of $148,100.00. Following the sale, the director now 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.
Several large investors have recently bought and sold shares of the business. Argent Capital Management LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the second quarter worth $1,069,000. The Manufacturers Life Insurance Company lifted its position in shares of Amphastar Pharmaceuticals by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock worth $512,000 after acquiring an additional 312 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Amphastar Pharmaceuticals by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock worth $23,786,000 after acquiring an additional 270,654 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Amphastar Pharmaceuticals by 72.0% during the second quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the company’s stock worth $815,000 after acquiring an additional 19,091 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Amphastar Pharmaceuticals by 12.8% during the second quarter. Nordea Investment Management AB now owns 115,607 shares of the company’s stock worth $2,065,000 after acquiring an additional 13,121 shares in the last quarter. Hedge funds and other institutional investors own 44.51% of the company’s stock.
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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