Amphastar Pharmaceuticals (NASDAQ:AMPH) Receives “Underperform” Rating from Bank of America

Amphastar Pharmaceuticals (NASDAQ:AMPH)‘s stock had its “underperform” rating reissued by analysts at Bank of America in a report released on Monday,Benzinga reports. They presently have a $20.00 price target on the stock, down from their prior price target of $25.00. Bank of America‘s price objective would suggest a potential downside of 8.17% from the stock’s current price.

Several other research firms also recently commented on AMPH. Piper Sandler reissued a “neutral” rating and issued a $21.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Jefferies Financial Group reissued a “hold” rating and set a $22.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Zacks Research cut shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, June 22nd. Finally, Barclays cut their price target on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 3rd. Five analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Amphastar Pharmaceuticals currently has a consensus rating of “Reduce” and an average price target of $22.00.

Amphastar Pharmaceuticals Price Performance

Shares of AMPH opened at $21.78 on Monday. Amphastar Pharmaceuticals has a fifty-two week low of $16.65 and a fifty-two week high of $31.26. The firm’s 50-day simple moving average is $19.89 and its two-hundred day simple moving average is $22.85. The stock has a market cap of $960.35 million, a PE ratio of 13.12, a price-to-earnings-growth ratio of 4.28 and a beta of 0.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.28). The business had revenue of $171.17 million for the quarter, compared to analysts’ expectations of $173.46 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. Analysts anticipate that Amphastar Pharmaceuticals will post 2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of Amphastar Pharmaceuticals in the third quarter worth $26,000. Quarry LP purchased a new position in Amphastar Pharmaceuticals in the third quarter worth about $32,000. Farther Finance Advisors LLC grew its stake in shares of Amphastar Pharmaceuticals by 46.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock valued at $37,000 after purchasing an additional 437 shares during the period. GAMMA Investing LLC grew its stake in shares of Amphastar Pharmaceuticals by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock valued at $45,000 after purchasing an additional 462 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Amphastar Pharmaceuticals by 24.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock valued at $60,000 after purchasing an additional 435 shares during the last quarter. 65.09% of the stock is owned by institutional investors.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.