Amphastar Pharmaceuticals, Inc. (AMPH) Rating Increased to Buy at Zacks Investment Research
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $21.00 price objective on the stock. Zacks Investment Research‘s target price points to a potential upside of 13.51% from the company’s current price.
According to Zacks, “Amphastar Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses primarily on developing, manufacturing, marketing, and selling generic and proprietary injectable and inhalation products. The company products include Enoxaparin Sodium Injection; Amphadase; Cortrosyn for Injection; and prefilled disposable emergency syringes for crash cart use. Amphastar Pharmaceuticals, Inc. is headquartered in Rancho Cucamonga, California. “
Other equities analysts have also recently issued reports about the company. TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, June 26th. Needham & Company LLC upped their price objective on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Amphastar Pharmaceuticals in a research report on Sunday, September 17th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $19.00 price objective (down from $20.00) on shares of Amphastar Pharmaceuticals in a research report on Friday, August 11th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $20.29.
Shares of Amphastar Pharmaceuticals (AMPH) opened at 18.50 on Thursday. Amphastar Pharmaceuticals has a 12 month low of $12.05 and a 12 month high of $21.75. The company’s 50 day moving average price is $17.27 and its 200-day moving average price is $16.44. The stock has a market capitalization of $854.61 million, a P/E ratio of 240.26 and a beta of 1.69.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $65.20 million for the quarter, compared to analysts’ expectations of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. Equities analysts predict that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current year.
Amphastar Pharmaceuticals declared that its board has authorized a stock repurchase plan on Wednesday, August 9th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director Stephen B. Shohet sold 7,862 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $18.34, for a total transaction of $144,189.08. Following the transaction, the director now directly owns 31,978 shares of the company’s stock, valued at approximately $586,476.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO William J. Peters sold 3,026 shares of the stock in a transaction on 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 a total of 145,653 shares of company stock worth $2,626,205 over the last three months. Insiders own 11.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its holdings in shares of Amphastar Pharmaceuticals by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 39,250 shares of the company’s stock valued at $701,000 after buying an additional 101 shares during the period. Arizona State Retirement System lifted its holdings in shares of Amphastar Pharmaceuticals by 1.1% during the 1st quarter. Arizona State Retirement System now owns 18,700 shares of the company’s stock valued at $271,000 after buying an additional 200 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Amphastar Pharmaceuticals by 2.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,430 shares of the company’s stock valued at $151,000 after buying an additional 230 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Amphastar Pharmaceuticals by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock valued at $512,000 after buying an additional 312 shares during the period. Finally, Mason Street Advisors LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock valued at $122,000 after buying an additional 549 shares during the period. 44.26% of the stock is currently owned by hedge funds and other institutional investors.
About Amphastar Pharmaceuticals
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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