Amphastar Pharmaceuticals, Inc. (AMPH) Receives Buy Rating from Piper Jaffray Companies
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)‘s stock had its “buy” rating reiterated by research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Sunday. They presently have a $19.00 target price on the stock. Piper Jaffray Companies’ price target points to a potential upside of 20.79% from the company’s previous close.
A number of other equities analysts have also issued reports on the company. TheStreet upgraded Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, June 26th. Wells Fargo & Company restated a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Saturday, July 22nd. BMO Capital Markets restated a “hold” rating and issued a $16.00 target price on shares of Amphastar Pharmaceuticals in a research note on Monday, July 31st. BidaskClub lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, ValuEngine lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.86.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 15.73 on Friday. The company’s 50-day moving average price is $15.66 and its 200-day moving average price is $15.80. Amphastar Pharmaceuticals has a 52-week low of $12.05 and a 52-week high of $21.75. The stock has a market cap of $726.65 million, a PE ratio of 204.29 and a beta of 1.66.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its 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 company had revenue of $65.20 million during 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% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. On average, equities research analysts forecast that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals declared that its board has authorized a share buyback plan on Wednesday, August 9th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $14.81, for a total transaction of $148,100.00. Following the completion of the transaction, the director now owns 33,844 shares in the company, valued at approximately $501,229.64. 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 5,000 shares of Amphastar Pharmaceuticals 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 transaction, the director now owns 33,844 shares of the company’s stock, valued at approximately $500,891.20. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Amphastar Pharmaceuticals by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock valued at $100,000 after buying an additional 842 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Amphastar Pharmaceuticals during the 2nd quarter valued at about $111,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Amphastar Pharmaceuticals by 3.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock valued at $119,000 after buying an additional 290 shares during the last quarter. Mason Street Advisors LLC raised its stake in shares of Amphastar Pharmaceuticals by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock valued at $122,000 after buying an additional 549 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Amphastar Pharmaceuticals by 77.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock valued at $125,000 after buying an additional 3,072 shares during the last quarter. Institutional investors and hedge funds own 44.51% 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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