Amphastar Pharmaceuticals (AMPH) Price Target Raised to $23.00 at Needham & Company LLC

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its target price lifted by equities research analysts at Needham & Company LLC from $20.00 to $23.00 in a report issued on Friday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 17.41% from the company’s previous close.

Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Jefferies Group reaffirmed a “buy” rating and set a $19.00 price objective (down from $20.00) on shares of Amphastar Pharmaceuticals in a report on Friday, August 11th. Piper Jaffray Companies set a $19.00 target price on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, Zacks Investment Research cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Amphastar Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $20.86.

Shares of Amphastar Pharmaceuticals (NASDAQ AMPH) opened at $19.59 on Friday. Amphastar Pharmaceuticals has a 12-month low of $12.05 and a 12-month high of $21.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.86 and a current ratio of 3.08. The company has a market capitalization of $900.66, a PE ratio of 121.27 and a beta of 1.68.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Amphastar Pharmaceuticals had a net margin of 0.12% and a return on equity of 2.30%. The firm had revenue of $57.90 million for the quarter, compared to the consensus estimate of $57.23 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. analysts predict that Amphastar Pharmaceuticals will post -0.03 earnings per share for the current fiscal year.

Amphastar Pharmaceuticals announced that its board has approved a share repurchase program on Wednesday, August 9th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Stephen B. Shohet sold 7,862 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $19.25, for a total transaction of $151,343.50. Following the transaction, the director now directly owns 31,978 shares of the company’s stock, valued at $615,576.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William J. Peters sold 3,026 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $18.56, for a total transaction of $56,162.56. The disclosure for this sale can be found here. Insiders sold a total of 180,440 shares of company stock worth $3,328,599 over the last quarter. Insiders own 11.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors raised its position in Amphastar Pharmaceuticals by 11.9% in the 2nd quarter. Nationwide Fund Advisors now owns 49,266 shares of the company’s stock valued at $880,000 after buying an additional 5,233 shares during the last quarter. Argent Capital Management LLC purchased a new position in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at about $1,069,000. Schwab Charles Investment Management Inc. increased its stake in shares of Amphastar Pharmaceuticals by 7.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 218,080 shares of the company’s stock valued at $3,895,000 after purchasing an additional 14,646 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Amphastar Pharmaceuticals by 32.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,061,188 shares of the company’s stock valued at $15,388,000 after purchasing an additional 260,288 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 72.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the company’s stock valued at $815,000 after purchasing an additional 19,091 shares during the last quarter. 44.09% of the stock is owned by institutional investors.

WARNING: “Amphastar Pharmaceuticals (AMPH) Price Target Raised to $23.00 at Needham & Company LLC” was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/12/01/amphastar-pharmaceuticals-amph-price-target-raised-to-23-00-at-needham-company-llc.html.

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.

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.

Leave a Reply