Amphastar Pharmaceuticals Inc. (AMPH) Trading Up 3%
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) was up 3% during mid-day trading on Thursday . The company traded as high as $19.60 and last traded at $19.57, with a volume of 406,208 shares. The stock had previously closed at $19.00.
A number of equities research analysts recently issued reports on AMPH shares. Zacks Investment Research raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, August 1st. Needham & Company LLC reduced their price objective on Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, May 10th. Piper Jaffray Cos. restated an “overweight” rating and set a $22.00 price objective on shares of Amphastar Pharmaceuticals in a report on Thursday, August 11th. BMO Capital Markets initiated coverage on Amphastar Pharmaceuticals in a report on Tuesday, June 28th. They set a “market perform” rating and a $17.00 price objective on the stock. Finally, Jefferies Group raised their price objective on Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.83.
The company has a market cap of $880.31 million and a price-to-earnings ratio of 63.34. The stock’s 50-day moving average price is $17.03 and its 200 day moving average price is $14.01.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.22. The company earned $68 million during the quarter, compared to analysts’ expectations of $62.10 million. Amphastar Pharmaceuticals’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) earnings per share. Analysts anticipate that Amphastar Pharmaceuticals Inc. will post $0.37 earnings per share for the current fiscal year.
In related news, Director Stephen B. Shohet sold 48,375 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $18.24, for a total value of $882,360.00. Following the transaction, the director now directly owns 28,653 shares in the company, valued at $522,630.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William J. Peters sold 2,297 shares of the company’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 value of $36,752.00. Following the completion of the transaction, the chief financial officer now owns 66,949 shares in the company, valued at $1,071,184. 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.