Amphastar Pharmaceuticals, Inc. (AMPH) Expected to Announce Earnings of $0.02 Per Share
Wall Street analysts forecast that Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) will report earnings of $0.02 per share for the current quarter, Zacks reports. Three analysts have made estimates for Amphastar Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.04) and the highest estimate coming in at $0.08. Amphastar Pharmaceuticals posted earnings per share of $0.14 in the same quarter last year, which would indicate a negative year over year growth rate of 85.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that Amphastar Pharmaceuticals will report full-year earnings of $0.26 per share for the current financial year, with EPS estimates ranging from $0.11 to $0.39. For the next financial year, analysts forecast that the company will report earnings of $0.66 per share, with EPS estimates ranging from $0.37 to $0.92. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Amphastar Pharmaceuticals.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its earnings results on Wednesday, August 9th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $65.20 million for the quarter, compared to the consensus estimate of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share.
Several brokerages have recently issued reports on AMPH. Piper Jaffray Companies set a $20.00 target price on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, July 29th. BidaskClub downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC restated 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. BMO Capital Markets reiterated a “hold” rating and issued a $16.00 price objective on shares of Amphastar Pharmaceuticals in a report on Monday, July 31st. Finally, ValuEngine lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $20.14.
Shares of Amphastar Pharmaceuticals (AMPH) traded down 0.75% during trading on Tuesday, reaching $18.55. The company had a trading volume of 259,616 shares. Amphastar Pharmaceuticals has a 52 week low of $12.05 and a 52 week high of $21.75. The stock’s 50-day moving average price is $15.92 and its 200-day moving average price is $16.01. The company has a market capitalization of $856.92 million, a PE ratio of 240.91 and a beta of 1.69.
Amphastar Pharmaceuticals announced that its board has authorized a stock repurchase plan on Wednesday, August 9th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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In other 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 transaction of $74,000.00. Following the completion of the transaction, the director now directly 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 link. Also, Director Richard K. Prins sold 10,000 shares of the firm’s 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 transaction, the director now owns 33,844 shares of the company’s stock, valued at $501,229.64. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rothschild Asset Management Inc. purchased a new position in Amphastar Pharmaceuticals during the 1st quarter valued at about $9,056,000. Citadel Advisors LLC grew its holdings in shares of Amphastar Pharmaceuticals by 1,823.3% in the first quarter. Citadel Advisors LLC now owns 355,566 shares of the company’s stock valued at $5,156,000 after purchasing an additional 337,079 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Amphastar Pharmaceuticals by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock worth $23,786,000 after buying an additional 270,654 shares during the period. Vanguard Group Inc. increased its stake in Amphastar Pharmaceuticals by 10.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock worth $43,128,000 after buying an additional 235,033 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Amphastar Pharmaceuticals by 143.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 362,947 shares of the company’s stock worth $6,482,000 after buying an additional 213,572 shares during the period. 44.26% 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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