Amphastar Pharmaceuticals (AMPH) PT Raised to $23.00

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price target hoisted by Needham & Company LLC from $20.00 to $23.00 in a research report released on Friday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

AMPH has been the topic of a number of other reports. Piper Jaffray Companies reiterated a buy rating and issued a $19.00 price objective on shares of Amphastar Pharmaceuticals in a report on Sunday, September 17th. Jefferies Group reissued a buy rating and issued a $19.00 target price (down from $20.00) on shares of Amphastar Pharmaceuticals in a research note on Friday, August 11th. Zacks Investment Research cut shares of Amphastar Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, October 10th. BidaskClub cut shares of Amphastar Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, August 11th. Finally, Raymond James Financial cut shares of Amphastar Pharmaceuticals from an outperform rating to a market perform rating and set a $18.00 target price for the company. in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $20.86.

Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at $18.89 on Friday. The company has a quick ratio of 1.86, a current ratio of 3.08 and a debt-to-equity ratio of 0.13. Amphastar Pharmaceuticals has a fifty-two week low of $12.05 and a fifty-two week high of $21.75. The stock has a market cap of $881.81, a P/E ratio of 127.87 and a beta of 1.69.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. Amphastar Pharmaceuticals had a net margin of 0.12% and a return on equity of 2.30%. The company had revenue of $57.90 million for the quarter, compared to the consensus estimate of $57.23 million. During the same period last year, the company earned $0.14 earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. sell-side analysts predict that Amphastar Pharmaceuticals will post -0.03 EPS for the current fiscal year.

Amphastar Pharmaceuticals declared that its board has authorized a stock repurchase plan on Wednesday, August 9th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

In related news, Director Stephen B. Shohet sold 7,862 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $19.25, for a total value of $151,343.50. Following the completion of the transaction, the director now directly owns 31,978 shares of the company’s stock, valued at $615,576.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William J. Peters sold 3,026 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $18.56, for a total transaction of $56,162.56. The disclosure for this sale can be found here. Insiders sold 180,440 shares of company stock valued at $3,328,599 over the last three months. 11.10% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in AMPH. Dimensional Fund Advisors LP boosted its position in Amphastar Pharmaceuticals by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock worth $23,786,000 after purchasing an additional 270,654 shares during the period. Vanguard Group Inc. boosted its position in Amphastar Pharmaceuticals by 10.8% during the second quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock worth $43,128,000 after purchasing an additional 235,033 shares during the period. UBS Asset Management Americas Inc. boosted its position in Amphastar Pharmaceuticals by 143.0% during the second quarter. UBS Asset Management Americas Inc. now owns 362,947 shares of the company’s stock worth $6,482,000 after purchasing an additional 213,572 shares during the period. Citigroup Inc. boosted its position in Amphastar Pharmaceuticals by 295.1% during the second quarter. Citigroup Inc. now owns 221,729 shares of the company’s stock worth $3,960,000 after purchasing an additional 165,613 shares during the period. Finally, State Street Corp boosted its position in Amphastar Pharmaceuticals by 11.1% during the first quarter. State Street Corp now owns 1,062,439 shares of the company’s stock worth $15,406,000 after purchasing an additional 106,448 shares during the period. 44.14% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Amphastar Pharmaceuticals (NASDAQ:AMPH)

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