Amphastar Pharmaceuticals, Inc. (AMPH) Expected to Post Quarterly Sales of $57.09 Million
Equities analysts expect Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) to announce $57.09 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Amphastar Pharmaceuticals’ earnings, with the highest sales estimate coming in at $58.20 million and the lowest estimate coming in at $56.20 million. Amphastar Pharmaceuticals posted sales of $64.22 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that Amphastar Pharmaceuticals will report full-year sales of $57.09 million for the current fiscal year, with estimates ranging from $236.90 million to $260.78 million. For the next year, analysts anticipate that the firm will report sales of $327.89 million per share, with estimates ranging from $306.70 million to $346.77 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Amphastar Pharmaceuticals.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The business had revenue of $65.20 million for the quarter, compared to analyst estimates of $63.40 million. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS.
AMPH has been the subject of several research reports. Wells Fargo & Company reiterated a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. BidaskClub lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 11th. TheStreet upgraded Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, June 26th. Needham & Company LLC lifted their price target on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $19.00 price target on shares of Amphastar Pharmaceuticals in a report on Sunday, September 17th. Two 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. Amphastar Pharmaceuticals presently has an average rating of “Hold” and an average target price of $20.17.
Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 18.49 on Thursday. Amphastar Pharmaceuticals has a one year low of $12.05 and a one year high of $21.75. The stock’s 50 day moving average is $16.14 and its 200 day moving average is $16.06. The stock has a market capitalization of $854.15 million, a price-to-earnings ratio of 240.13 and a beta of 1.69.
Amphastar Pharmaceuticals announced that its board has authorized a stock buyback program on Wednesday, August 9th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, Director Richard K. Prins sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 33,844 shares in the company, valued at approximately $500,891.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Zasloff sold 63,624 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $18.18, for a total value of $1,156,684.32. Following the completion of the sale, the director now owns 101,879 shares of the company’s stock, valued at $1,852,160.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,624 shares of company stock valued at $1,378,784. Corporate insiders own 11.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Argent Capital Management LLC acquired a new stake in Amphastar Pharmaceuticals in the 2nd quarter worth approximately $1,069,000. The Manufacturers Life Insurance Company lifted its holdings in Amphastar Pharmaceuticals by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock worth $512,000 after purchasing an additional 312 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Amphastar Pharmaceuticals by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock worth $23,786,000 after purchasing an additional 270,654 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Amphastar Pharmaceuticals by 72.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the company’s stock worth $815,000 after purchasing an additional 19,091 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Amphastar Pharmaceuticals by 12.8% in the 2nd quarter. Nordea Investment Management AB now owns 115,607 shares of the company’s stock worth $2,065,000 after purchasing an additional 13,121 shares during the last quarter. Hedge funds and other institutional investors own 44.26% of the company’s stock.
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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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