Amphastar Pharmaceuticals, Inc. (AMPH) Receives Consensus Rating of “Hold” from Brokerages
Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) have received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $19.20.
A number of brokerages have recently commented on AMPH. Needham & Company LLC upped their price target on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets upped their price target on Amphastar Pharmaceuticals from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. Zacks Investment Research cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies set a $19.00 price target on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, October 22nd. Finally, Jefferies Group set a $19.00 price target on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, October 29th.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down $0.21 during trading hours on Thursday, reaching $18.68. The company’s stock had a trading volume of 155,072 shares, compared to its average volume of 293,490. The company has a market cap of $881.82, a P/E ratio of 127.87 and a beta of 1.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.08 and a quick ratio of 1.86. Amphastar Pharmaceuticals has a 52-week low of $12.05 and a 52-week high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Amphastar Pharmaceuticals had a return on equity of 2.30% and a net margin of 0.12%. The firm had revenue of $57.90 million during the quarter, compared to the consensus estimate of $57.23 million. During the same quarter in the prior year, the company earned $0.14 EPS. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. sell-side analysts forecast that Amphastar Pharmaceuticals will post -0.03 EPS for the current year.
Amphastar Pharmaceuticals declared that its Board of Directors has approved a share 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 reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, CFO William J. Peters sold 6,226 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $19.67, for a total transaction of $122,465.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael A. Zasloff sold 63,624 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $18.18, for a total value of $1,156,684.32. Following the sale, the director now directly owns 101,879 shares in the company, valued at approximately $1,852,160.22. The disclosure for this sale can be found here. Insiders have sold a total of 186,666 shares of company stock worth $3,451,064 in the last ninety days. Insiders own 11.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in Amphastar Pharmaceuticals by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock worth $100,000 after purchasing an additional 842 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Amphastar Pharmaceuticals during the 2nd quarter worth about $111,000. State of Alaska Department of Revenue lifted its holdings in Amphastar Pharmaceuticals by 77.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock worth $125,000 after purchasing an additional 3,072 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in 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 worth $151,000 after purchasing an additional 230 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Amphastar Pharmaceuticals by 58.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,545 shares of the company’s stock worth $188,000 after purchasing an additional 3,880 shares in the last quarter. 44.14% of the stock is currently owned by institutional investors and hedge funds.
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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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