Amphastar Pharmaceuticals, Inc. (AMPH) Stock Rating Upgraded by Zacks Investment Research
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $21.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 13.82% from the stock’s previous close.
According to Zacks, “Amphastar Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses primarily on developing, manufacturing, marketing, and selling generic and proprietary injectable and inhalation products. The company products include Enoxaparin Sodium Injection; Amphadase; Cortrosyn for Injection; and prefilled disposable emergency syringes for crash cart use. Amphastar Pharmaceuticals, Inc. is headquartered in Rancho Cucamonga, California. “
Several other research firms have also recently issued reports on AMPH. ValuEngine cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Piper Jaffray Companies set a $19.00 price objective on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Needham & Company LLC increased their price objective on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, September 27th. Wells Fargo & Company reiterated a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Saturday, July 22nd. Finally, TheStreet upgraded Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.29.
Amphastar Pharmaceuticals (AMPH) traded down 0.49% during midday trading on Thursday, reaching $18.45. 118,304 shares of the company were exchanged. The company has a 50 day moving average of $17.11 and a 200-day moving average of $16.39. Amphastar Pharmaceuticals has a 52-week low of $12.05 and a 52-week high of $21.75. The company has a market capitalization of $852.30 million, a price-to-earnings ratio of 239.61 and a beta of 1.69.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $65.20 million during the quarter, compared to analysts’ expectations of $63.40 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals declared that its board has initiated a stock buyback program on Wednesday, August 9th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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 value of $74,000.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Diane G. Gerst sold 8,444 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $18.87, for a total value of $159,338.28. The disclosure for this sale can be found here. Insiders sold 137,268 shares of company stock valued at $2,472,351 in the last quarter. 11.10% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Argent Capital Management LLC purchased a new position in shares of Amphastar Pharmaceuticals in the second quarter valued at $1,069,000. The Manufacturers Life Insurance Company increased its position in shares of Amphastar Pharmaceuticals by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock valued at $512,000 after buying an additional 312 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Amphastar Pharmaceuticals by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock valued at $23,786,000 after buying an additional 270,654 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Amphastar Pharmaceuticals by 72.0% in the second quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the company’s stock valued at $815,000 after buying an additional 19,091 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Amphastar Pharmaceuticals by 12.8% in the second quarter. Nordea Investment Management AB now owns 115,607 shares of the company’s stock valued at $2,065,000 after buying an additional 13,121 shares in the last quarter. Institutional investors and hedge funds own 44.26% 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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