Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Expected to Post Quarterly Sales of $68.67 Million
Wall Street brokerages forecast that Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) will post $68.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Amphastar Pharmaceuticals’ earnings, with estimates ranging from $66.60 million to $70.73 million. Amphastar Pharmaceuticals reported sales of $64.22 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The company is expected to issue its next earnings report on Tuesday, November 14th.
On average, analysts expect that Amphastar Pharmaceuticals will report full-year sales of $68.67 million for the current financial year, with estimates ranging from $246.00 million to $284.06 million. For the next year, analysts expect that the firm will report sales of $343.49 million per share, with estimates ranging from $309.40 million to $370.97 million. Zacks’ sales averages are an average based on a survey of research firms that follow Amphastar Pharmaceuticals.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, August 9th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. Amphastar Pharmaceuticals had a return on equity of 2.43% and a net margin of 1.61%. The firm had revenue of $65.20 million for the quarter, compared to analysts’ expectations of $63.40 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year.
Several research firms have recently commented on AMPH. Jefferies Group LLC set a $21.00 price target on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, April 20th. BidaskClub cut shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. Piper Jaffray Companies set a $20.00 price target on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, July 29th. BMO Capital Markets reissued a “hold” rating and set a $16.00 price target on shares of Amphastar Pharmaceuticals in a research note on Monday, July 31st. Finally, Zacks Investment Research cut shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.00.
Shares of Amphastar Pharmaceuticals (AMPH) traded down 2.10% during midday trading on Friday, reaching $14.95. The company had a trading volume of 173,208 shares. The company has a market capitalization of $686.35 million, a P/E ratio of 194.16 and a beta of 1.65. Amphastar Pharmaceuticals has a 12 month low of $12.05 and a 12 month high of $21.75. The firm’s 50 day moving average price is $17.33 and its 200-day moving average price is $15.92.
Amphastar Pharmaceuticals announced that its board has approved a stock buyback plan on Wednesday, August 9th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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In other Amphastar Pharmaceuticals news, Director Michael A. Zasloff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $17.01, for a total value of $255,150.00. Following the transaction, the director now directly owns 47,411 shares of the company’s stock, valued at $806,461.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $17.07, for a total transaction of $170,700.00. Following the completion of the transaction, the director now directly owns 28,844 shares in the company, valued at $492,367.08. The disclosure for this sale can be found here. Insiders have sold 36,482 shares of company stock worth $620,125 over the last three months. 11.10% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Amphastar Pharmaceuticals by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock worth $100,000 after buying an additional 842 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Amphastar Pharmaceuticals during the second quarter worth about $111,000. State of Alaska Department of Revenue boosted its position in shares of Amphastar Pharmaceuticals by 77.2% in the second quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock worth $125,000 after buying an additional 3,072 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Amphastar Pharmaceuticals by 3.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock worth $119,000 after buying an additional 290 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its position in shares of Amphastar Pharmaceuticals by 7.0% in the first quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock worth $122,000 after buying an additional 549 shares during the last quarter. 44.02% of the stock is currently owned by hedge funds and other institutional investors.
Amphastar Pharmaceuticals Company Profile
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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