Amphastar Pharmaceuticals (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $22.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.58% from the stock’s current price.
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 analysts have also recently issued reports on the company. Raymond James Financial cut Amphastar Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a report on Thursday, November 9th. BMO Capital Markets upped their target price on Amphastar Pharmaceuticals from $16.00 to $17.00 and gave the company a “market perform” rating in a report on Friday, November 10th. BidaskClub cut Amphastar Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 9th. Needham & Company LLC upped their target price on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the company a “buy” rating in a report on Friday, December 1st. Finally, Jefferies Group set a $19.00 target price on Amphastar Pharmaceuticals and gave the company a “buy” rating in a report on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $19.67.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Wednesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $57.23 million. Amphastar Pharmaceuticals had a return on equity of 2.30% and a net margin of 0.12%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. equities analysts predict that Amphastar Pharmaceuticals will post -0.03 EPS for the current fiscal year.
In other news, Director Stephen B. Shohet sold 7,862 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $18.39, for a total value of $144,582.18. Following the transaction, the director now owns 31,978 shares of the company’s stock, valued at approximately $588,075.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William J. Peters sold 6,226 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $19.67, for a total value of $122,465.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,264 shares of company stock worth $1,350,119. Corporate insiders own 11.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Amphastar Pharmaceuticals by 17.7% in the 2nd 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 acquired a new position in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at $111,000. Municipal Employees Retirement System of Michigan lifted its stake in shares of Amphastar Pharmaceuticals by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 13,390 shares of the company’s stock valued at $239,000 after purchasing an additional 4,960 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Amphastar Pharmaceuticals by 70.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 17,946 shares of the company’s stock worth $321,000 after acquiring an additional 7,401 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Amphastar Pharmaceuticals by 7.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,610 shares of the company’s stock worth $386,000 after acquiring an additional 1,460 shares in the last quarter. 44.00% of the stock is currently owned by institutional investors and hedge funds.
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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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