Amphastar Pharmaceuticals Inc. (AMPH) Sets New 52-Week High at $18.89
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $18.89 and last traded at $18.82, with a volume of 429,866 shares changing hands. The stock had previously closed at $18.34.
AMPH has been the topic of several research analyst reports. Needham & Company LLC dropped their price objective on Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, May 10th. Zacks Investment Research upgraded Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday, August 1st. Jefferies Group increased their target price on Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. BMO Capital Markets restated a “hold” rating and set a $17.00 target price on shares of Amphastar Pharmaceuticals in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $22.00 target price on shares of Amphastar Pharmaceuticals in a research report on Thursday, August 11th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $19.83.
The stock has a 50 day moving average price of $16.96 and a 200 day moving average price of $13.98. The firm has a market cap of $854.59 million and a P/E ratio of 61.49.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The firm had revenue of $68 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period last year, the business earned ($0.09) EPS. Amphastar Pharmaceuticals’s revenue was up 26.4% on a year-over-year basis. Analysts expect that Amphastar Pharmaceuticals Inc. will post $0.37 EPS for the current fiscal year.
In related news, CFO William J. Peters sold 2,297 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $16.00, for a total transaction of $36,752.00. Following the completion of the sale, the chief financial officer now owns 66,949 shares of the company’s stock, valued at $1,071,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Jason B. Shandell sold 9,904 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $16.43, for a total transaction of $162,722.72. Following the sale, the president now directly owns 216,610 shares of the company’s stock, valued at approximately $3,558,902.30. The disclosure for this sale can be found here.
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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