Amphastar Pharmaceuticals Inc. (AMPH) Sees Large Volume Increase
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) saw strong trading volume on Monday . 701,579 shares traded hands during trading, an increase of 42% from the previous session’s volume of 492,889 shares.The stock last traded at $20.33 and had previously closed at $19.47.
Several analysts recently issued reports on the stock. Jefferies Group upped their price objective on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $17.00 price objective on shares of Amphastar Pharmaceuticals in a research note on Tuesday, August 9th. 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. Zacks Investment Research raised shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, August 10th. Finally, Needham & Company LLC upped their price objective on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.83.
The stock has a market capitalization of $902.87 million and a price-to-earnings ratio of 64.97. The firm’s 50 day moving average is $17.25 and its 200-day moving average is $14.17.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The company earned $68 million during the quarter, compared to analyst estimates of $62.10 million. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.09) EPS. Equities analysts forecast that Amphastar Pharmaceuticals Inc. will post $0.37 earnings per share for the current year.
In related news, CFO William J. Peters sold 2,297 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 66,949 shares in the company, valued at $1,071,184. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard K. Prins sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $15.94, for a total transaction of $119,550.00. Following the completion of the sale, the director now owns 29,086 shares of the company’s stock, valued at approximately $463,630.84. 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.