Brokerages Set Amphastar Pharmaceuticals Inc. (AMPH) PT at $20.00
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) has been given an average recommendation of “Buy” by the eight analysts that are currently covering the firm. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $20.00.
AMPH has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on shares of Amphastar Pharmaceuticals in a report on Tuesday, June 28th. They issued a “market perform” rating and a $17.00 target price on the stock. Zacks Investment Research lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Needham & Company LLC upped their target price on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Jefferies Group upped their target price on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $22.00 price objective on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 11th.
Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 18.425 on Monday. The stock has a 50 day moving average of $19.26 and a 200 day moving average of $16.18. Amphastar Pharmaceuticals has a 1-year low of $10.50 and a 1-year high of $21.53. The stock has a market cap of $831.35 million, a price-to-earnings ratio of 59.821 and a beta of 1.83.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results on Monday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.22. The company had revenue of $68 million for the quarter, compared to analyst estimates of $62.10 million. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. Equities analysts expect that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current year.
In related news, insider Jason B. Shandell sold 56,996 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $19.50, for a total transaction of $1,111,422.00. Following the completion of the sale, the insider now owns 259,957 shares of the company’s stock, valued at approximately $5,069,161.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jack Y. Zhang sold 444,199 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $21.03, for a total transaction of $9,341,504.97. Following the sale, the chief executive officer now directly owns 1,295,685 shares of the company’s stock, valued at approximately $27,248,255.55. The disclosure for this sale can be found here. Corporate insiders own 29.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Amphastar Pharmaceuticals during the first quarter worth about $180,000. UBS Asset Management Americas Inc. increased its stake in Amphastar Pharmaceuticals by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 277,294 shares of the company’s stock worth $3,328,000 after buying an additional 25,095 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Amphastar Pharmaceuticals during the second quarter worth about $3,227,000. California State Teachers Retirement System increased its stake in Amphastar Pharmaceuticals by 10.8% in the second quarter. California State Teachers Retirement System now owns 74,633 shares of the company’s stock worth $1,203,000 after buying an additional 7,291 shares during the period. Finally, Essex Investment Management Co. LLC increased its stake in Amphastar Pharmaceuticals by 236.0% in the second quarter. Essex Investment Management Co. LLC now owns 105,239 shares of the company’s stock worth $1,696,000 after buying an additional 73,922 shares during the period. 35.87% of the stock is owned by hedge funds and other institutional investors.
About Amphastar Pharmaceuticals
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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