Amphastar Pharmaceuticals, Inc. (AMPH) Earns Buy Rating from Piper Jaffray Companies

Piper Jaffray Companies reaffirmed their buy rating on shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) in a report published on Sunday morning. Piper Jaffray Companies currently has a $19.00 price target on the stock.

A number of other research analysts have also weighed in on the stock. ValuEngine lowered shares of Amphastar Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, August 22nd. 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 note on Friday, August 11th. BidaskClub lowered shares of Amphastar Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, August 11th. BMO Capital Markets reaffirmed a hold rating and issued a $16.00 price objective on shares of Amphastar Pharmaceuticals in a research note on Monday, July 31st. Finally, Wells Fargo & Company reaffirmed a buy rating on shares of Amphastar Pharmaceuticals in a research note on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $19.86.

Shares of Amphastar Pharmaceuticals (AMPH) opened at 15.66 on Friday. Amphastar Pharmaceuticals has a 52-week low of $12.05 and a 52-week high of $21.75. The company has a market capitalization of $723.41 million, a PE ratio of 203.38 and a beta of 1.66. The company has a 50-day moving average of $15.56 and a 200 day moving average of $15.82.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The firm had revenue of $65.20 million for the quarter, compared to analyst estimates of $63.40 million. During the same period last year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts predict that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current year.

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Amphastar Pharmaceuticals declared that its board has authorized 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 purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $14.80, for a total transaction of $74,000.00. Following the transaction, the director now directly owns 33,844 shares of the company’s stock, valued at $500,891.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $14.81, for a total transaction of $148,100.00. Following the transaction, the director now directly owns 33,844 shares in the company, valued at $501,229.64. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Argent Capital Management LLC bought a new position in shares of Amphastar Pharmaceuticals during the second quarter valued at about $1,069,000. The Manufacturers Life Insurance Company lifted its position in shares of Amphastar Pharmaceuticals by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock valued at $512,000 after purchasing an additional 312 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Amphastar Pharmaceuticals by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock valued at $23,786,000 after purchasing an additional 270,654 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Amphastar Pharmaceuticals by 72.0% during the second quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the company’s stock valued at $815,000 after purchasing an additional 19,091 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Amphastar Pharmaceuticals by 12.8% during the second quarter. Nordea Investment Management AB now owns 115,607 shares of the company’s stock valued at $2,065,000 after purchasing an additional 13,121 shares in the last quarter. 44.26% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Amphastar Pharmaceuticals (NASDAQ:AMPH)

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