Brokerages Set Amphastar Pharmaceuticals, Inc. (AMPH) Price Target at $18.00
Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) have earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $18.00.
Several equities analysts have issued reports on AMPH shares. TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. BidaskClub lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Piper Jaffray Companies set a $20.00 price objective on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, July 29th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $16.00 price objective on shares of Amphastar Pharmaceuticals in a report on Monday, July 31st.
In related news, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $14.80, for a total transaction of $74,000.00. Following the transaction, the director now owns 33,844 shares of the company’s stock, valued at $500,891.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $14.81, for a total value of $148,100.00. Following the transaction, the director now directly owns 33,844 shares in the company, valued at approximately $501,229.64. The disclosure for this sale can be found here. Company insiders own 11.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in shares of Amphastar Pharmaceuticals by 17.7% during 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 purchased a new position in shares of Amphastar Pharmaceuticals during the second quarter worth about $111,000. State of Alaska Department of Revenue grew its holdings in shares of Amphastar Pharmaceuticals by 77.2% during 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 grew its holdings in shares of Amphastar Pharmaceuticals by 3.7% during 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 grew its holdings in shares of Amphastar Pharmaceuticals by 7.0% during 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. 44.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down 0.82% during mid-day trading on Friday, reaching $15.65. The company’s stock had a trading volume of 93,539 shares. Amphastar Pharmaceuticals has a 52 week low of $12.05 and a 52 week high of $21.75. The company’s 50-day moving average is $15.61 and its 200-day moving average is $15.81. The stock has a market capitalization of $722.95 million, a price-to-earnings ratio of 203.25 and a beta of 1.66.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $65.20 million for the quarter, compared to analyst estimates of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. Equities analysts predict that Amphastar Pharmaceuticals will post $0.27 EPS for the current year.
Amphastar Pharmaceuticals declared that its board has initiated a share buyback program on Wednesday, August 9th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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