Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target Lowered to $20.00 at Barclays

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price target lowered by Barclays from $23.00 to $20.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages have also recently weighed in on AMPH. Weiss Ratings cut Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Piper Sandler reiterated a “neutral” rating and set a $21.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 11th. Wells Fargo & Company reiterated an “equal weight” rating and set a $19.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Thursday, May 14th. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Friday, May 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Amphastar Pharmaceuticals has a consensus rating of “Reduce” and a consensus price target of $24.00.

Amphastar Pharmaceuticals Stock Down 1.9%

Shares of NASDAQ AMPH opened at $18.09 on Wednesday. The company has a quick ratio of 2.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.79. The company has a market cap of $797.76 million, a P/E ratio of 10.90, a P/E/G ratio of 3.63 and a beta of 0.91. Amphastar Pharmaceuticals has a 52 week low of $16.65 and a 52 week high of $31.26. The business has a 50-day simple moving average of $20.03 and a two-hundred day simple moving average of $23.66.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.28). Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. The company had revenue of $171.17 million for the quarter, compared to the consensus estimate of $173.46 million. Research analysts anticipate that Amphastar Pharmaceuticals will post 2.41 earnings per share for the current fiscal year.

Institutional Trading of Amphastar Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Segall Bryant & Hamill LLC increased its stake in Amphastar Pharmaceuticals by 197.9% in the 1st quarter. Segall Bryant & Hamill LLC now owns 33,318 shares of the company’s stock worth $653,000 after purchasing an additional 22,133 shares during the period. Bank of America Corp DE increased its stake in Amphastar Pharmaceuticals by 36.0% in the 1st quarter. Bank of America Corp DE now owns 174,323 shares of the company’s stock worth $3,415,000 after purchasing an additional 46,149 shares during the period. Empowered Funds LLC increased its stake in Amphastar Pharmaceuticals by 9.3% in the 1st quarter. Empowered Funds LLC now owns 181,332 shares of the company’s stock worth $3,552,000 after purchasing an additional 15,425 shares during the period. Rice Hall James & Associates LLC increased its stake in Amphastar Pharmaceuticals by 54.6% in the 1st quarter. Rice Hall James & Associates LLC now owns 187,348 shares of the company’s stock worth $3,670,000 after purchasing an additional 66,172 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Amphastar Pharmaceuticals by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 553,900 shares of the company’s stock worth $10,851,000 after purchasing an additional 9,200 shares during the period. Institutional investors own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.