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 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.
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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