Amphastar Pharmaceuticals Inc. (AMPH) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $21.00 target price on the stock.
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. “
A number of other research firms also recently weighed in on AMPH. Needham & Company LLC lifted their price target on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the stock a buy rating in a research note on Tuesday, August 9th. Piper Jaffray Cos. reiterated an overweight rating and set a $23.00 price target (up previously from $22.00) on shares of Amphastar Pharmaceuticals in a research note on Wednesday, September 7th. BMO Capital Markets started coverage on shares of Amphastar Pharmaceuticals in a research note on Tuesday, June 28th. They set a market perform rating and a $17.00 price target on the stock. Finally, Jefferies Group lifted their price target on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a buy rating in a research note on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $20.00.
Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 18.00 on Tuesday. The firm’s 50-day moving average is $19.17 and its 200 day moving average is $16.25. The firm has a market cap of $812.18 million, a PE ratio of 58.44 and a beta of 1.83. Amphastar Pharmaceuticals has a 1-year low of $10.50 and a 1-year high of $21.53.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.22. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The firm had revenue of $68 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. On average, equities analysts forecast that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current fiscal year.
In related news, Director Richard K. Prins sold 13,993 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $18.03, for a total value of $252,293.79. Following the completion of the transaction, the director now directly owns 31,681 shares of the company’s stock, valued at $571,208.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Jason B. Shandell sold 5,636 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $18.01, for a total value of $101,504.36. Following the completion of the transaction, the president now directly owns 208,948 shares of the company’s stock, valued at $3,763,153.48. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Amphastar Pharmaceuticals during the first quarter worth about $180,000. Teachers Advisors Inc. boosted its position in Amphastar Pharmaceuticals by 18.8% in the first quarter. Teachers Advisors Inc. now owns 492,136 shares of the company’s stock worth $5,906,000 after buying an additional 77,910 shares in the last quarter. Menta Capital LLC acquired a new position in Amphastar Pharmaceuticals during the first quarter worth about $533,000. UBS Asset Management Americas Inc. boosted its position 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 in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Amphastar Pharmaceuticals by 81.0% in the second quarter. Acadian Asset Management LLC now owns 818,620 shares of the company’s stock worth $13,195,000 after buying an additional 366,249 shares in the last quarter. 35.80% of the stock is owned by institutional investors and hedge funds.
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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