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.

TRADEMARK VIOLATION WARNING: This piece was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/19/amphastar-pharmaceuticals-inc-amph-stock-rating-upgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Amphastar Pharmaceuticals (AMPH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Amphastar Pharmaceuticals (NASDAQ:AMPH)

Receive News & Ratings for Amphastar Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphastar Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.