Amphastar Pharmaceuticals’ (AMPH) Equal Weight Rating Reiterated at Wells Fargo & Company

Amphastar Pharmaceuticals (NASDAQ:AMPH)‘s stock had its “equal weight” rating reissued by analysts at Wells Fargo & Company in a research note issued on Thursday,Benzinga reports. They presently have a $19.00 price objective on the stock, down from their previous price objective of $30.00. Wells Fargo & Company‘s target price suggests a potential upside of 3.71% from the company’s current price.

A number of other analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Friday, May 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday. Weiss Ratings downgraded Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Barclays lowered their price target on Amphastar Pharmaceuticals from $30.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $24.50.

Amphastar Pharmaceuticals Stock Performance

Shares of Amphastar Pharmaceuticals stock opened at $18.32 on Thursday. The firm has a market cap of $807.78 million, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 2.84 and a beta of 0.97. The stock’s 50-day moving average is $20.35 and its 200-day moving average is $24.40. Amphastar Pharmaceuticals has a one year low of $17.03 and a one year high of $31.26. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.85 and a quick ratio of 2.82.

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 analysts’ consensus estimates of $0.70 by ($0.28). The company had revenue of $171.17 million during the quarter, compared to analyst estimates of $173.46 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. Equities analysts predict that Amphastar Pharmaceuticals will post 2.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMPH. Marshall Wace LLP boosted its stake in shares of Amphastar Pharmaceuticals by 41.6% in the fourth quarter. Marshall Wace LLP now owns 1,237,284 shares of the company’s stock valued at $33,134,000 after buying an additional 363,216 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Amphastar Pharmaceuticals by 382.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 392,310 shares of the company’s stock worth $10,455,000 after purchasing an additional 311,071 shares during the last quarter. Clark Capital Management Group Inc. bought a new stake in Amphastar Pharmaceuticals during the third quarter worth $7,560,000. Algert Global LLC lifted its stake in Amphastar Pharmaceuticals by 216.1% during the third quarter. Algert Global LLC now owns 392,902 shares of the company’s stock worth $10,471,000 after purchasing an additional 268,612 shares during the last quarter. Finally, UBS Group AG lifted its stake in Amphastar Pharmaceuticals by 367.2% during the third quarter. UBS Group AG now owns 312,274 shares of the company’s stock worth $8,322,000 after purchasing an additional 245,440 shares during the last quarter. 65.09% of the stock is currently owned by institutional investors.

About Amphastar Pharmaceuticals

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.