Jefferies Group Comments on Amphastar Pharmaceuticals, Inc.’s FY2020 Earnings (AMPH)
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) – Equities researchers at Jefferies Group reduced their FY2020 earnings per share estimates for shares of Amphastar Pharmaceuticals in a note issued to investors on Thursday. Jefferies Group analyst D. Steinberg now expects that the company will post earnings per share of $1.96 for the year, down from their previous forecast of $1.97. Jefferies Group has a “Buy” rating and a $19.00 price target on the stock. Jefferies Group also issued estimates for Amphastar Pharmaceuticals’ FY2021 earnings at $1.96 EPS.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. Amphastar Pharmaceuticals had a return on equity of 0.21% and a net margin of 0.30%. The company had revenue of $57.90 million during the quarter, compared to analyst estimates of $57.23 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Amphastar Pharmaceuticals’s revenue was down 9.8% compared to the same quarter last year.
Other analysts have also issued research reports about the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. Zacks Investment Research raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Thursday, October 19th. Piper Jaffray Companies set a $19.00 price objective on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a report on Sunday, October 22nd. Needham & Company LLC lifted their price objective on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, September 27th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Amphastar Pharmaceuticals in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $20.43.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down $0.69 on Monday, hitting $17.86. The company had a trading volume of 229,400 shares, compared to its average volume of 294,612. The company has a quick ratio of 1.86, a current ratio of 3.08 and a debt-to-equity ratio of 0.13. Amphastar Pharmaceuticals has a one year low of $12.05 and a one year high of $21.75. The company has a market capitalization of $821.13, a price-to-earnings ratio of 123.67, a P/E/G ratio of 8.24 and a beta of 1.68.
Several institutional investors have recently made changes to their positions in AMPH. Municipal Employees Retirement System of Michigan lifted 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 valued at $119,000 after acquiring an additional 290 shares in the last quarter. OppenheimerFunds Inc. purchased a new position in shares of Amphastar Pharmaceuticals in the first quarter valued at about $215,000. Principal Financial Group Inc. lifted its position in shares of Amphastar Pharmaceuticals by 3.4% in the first quarter. Principal Financial Group Inc. now owns 290,535 shares of the company’s stock valued at $4,213,000 after acquiring an additional 9,592 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Amphastar Pharmaceuticals by 3.7% in the first quarter. Thrivent Financial For Lutherans now owns 20,150 shares of the company’s stock valued at $292,000 after acquiring an additional 710 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Amphastar Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,179,764 shares of the company’s stock valued at $31,607,000 after acquiring an additional 8,744 shares in the last quarter. Institutional investors and hedge funds own 43.89% of the company’s stock.
In other Amphastar Pharmaceuticals news, Director Michael A. Zasloff sold 63,624 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $18.18, for a total transaction of $1,156,684.32. Following the completion of the sale, the director now owns 101,879 shares of the company’s stock, valued at $1,852,160.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William J. Peters sold 3,026 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $18.56, for a total value of $56,162.56. The disclosure for this sale can be found here. Insiders have sold 155,285 shares of company stock valued at $2,857,895 in the last three months. 11.10% of the stock is currently owned by corporate insiders.
Amphastar Pharmaceuticals declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 9th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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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