Brokerages Anticipate Amphastar Pharmaceuticals, Inc. (AMPH) Will Announce Quarterly Sales of $62.58 Million

Wall Street brokerages expect Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) to post sales of $62.58 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Amphastar Pharmaceuticals’ earnings. The lowest sales estimate is $56.70 million and the highest is $67.73 million. Amphastar Pharmaceuticals reported sales of $63.54 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.5%. The firm is expected to report its next quarterly earnings results on Monday, March 12th.

According to Zacks, analysts expect that Amphastar Pharmaceuticals will report full-year sales of $62.58 million for the current year, with estimates ranging from $234.00 million to $247.51 million. For the next year, analysts anticipate that the company will post sales of $312.39 million per share, with estimates ranging from $299.80 million to $325.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Amphastar Pharmaceuticals.

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

A number of analysts have commented on AMPH shares. Piper Jaffray Companies reiterated a “buy” rating and set a $19.00 target price on shares of Amphastar Pharmaceuticals in a research report on Sunday, September 17th. Needham & Company LLC upped their price objective on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. Jefferies Group reiterated a “buy” rating and set a $19.00 target price (down from $20.00) on shares of Amphastar Pharmaceuticals in a research report on Friday, August 11th. Zacks Investment Research downgraded Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, BidaskClub lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $20.86.

Amphastar Pharmaceuticals (AMPH) traded down $0.41 during trading hours on Friday, hitting $19.18. The stock had a trading volume of 257,163 shares, compared to its average volume of 278,962. Amphastar Pharmaceuticals has a 1-year low of $12.05 and a 1-year high of $21.75. The firm has a market capitalization of $900.66, a price-to-earnings ratio of 130.60 and a beta of 1.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.86 and a current ratio of 3.08.

Amphastar Pharmaceuticals announced that its board has initiated a share repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in Amphastar Pharmaceuticals by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock valued at $100,000 after purchasing an additional 842 shares during the last quarter. SG Americas Securities LLC purchased a new position in Amphastar Pharmaceuticals in the second quarter valued at about $111,000. State of Alaska Department of Revenue boosted its holdings in Amphastar Pharmaceuticals by 77.2% in the second quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock valued at $125,000 after purchasing an additional 3,072 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Amphastar Pharmaceuticals by 2.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,430 shares of the company’s stock valued at $151,000 after purchasing an additional 230 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Amphastar Pharmaceuticals by 58.2% in the second quarter. BNP Paribas Arbitrage SA now owns 10,545 shares of the company’s stock valued at $188,000 after purchasing an additional 3,880 shares during the last quarter. 44.09% of the stock is owned by hedge funds and other institutional investors.

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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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