Amphastar Pharmaceuticals (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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. “
AMPH has been the subject of several other reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $19.00 price target on shares of Amphastar Pharmaceuticals in a research note on Sunday, September 17th. Needham & Company LLC raised their target price on shares of Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Jefferies Group set a $19.00 target price on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, October 29th. 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. Finally, BMO Capital Markets raised their target price on shares of Amphastar Pharmaceuticals from $16.00 to $17.00 and gave the company a “market perform” rating in a research note on Friday, November 10th. 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 company. The company currently has an average rating of “Hold” and a consensus target price of $19.50.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its earnings results on Wednesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping 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 business had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $57.23 million. During the same period in the prior year, the business earned $0.14 EPS. Amphastar Pharmaceuticals’s revenue for the quarter was down 9.8% compared to the same quarter last year. analysts anticipate that Amphastar Pharmaceuticals will post -0.03 earnings per share for the current year.
In other Amphastar Pharmaceuticals news, Director Stephen B. Shohet sold 7,866 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $18.87, for a total value of $148,431.42. Following the transaction, the director now owns 31,982 shares in the company, valued at $603,500.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen B. Shohet sold 7,862 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $18.73, for a total value of $147,255.26. The disclosure for this sale can be found here. Insiders have sold 92,060 shares of company stock valued at $1,716,956 in the last three months. Insiders own 11.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AMPH. Victory Capital Management Inc. grew its holdings in shares of Amphastar Pharmaceuticals by 17.7% during the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock worth $100,000 after purchasing an additional 842 shares during the last quarter. SG Americas Securities LLC bought a new stake in Amphastar Pharmaceuticals in the second quarter valued at approximately $111,000. Municipal Employees Retirement System of Michigan boosted its holdings in Amphastar Pharmaceuticals by 2.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,430 shares of the company’s stock valued at $151,000 after acquiring an additional 230 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Amphastar Pharmaceuticals by 58.2% in the second quarter. BNP Paribas Arbitrage SA now owns 10,545 shares of the company’s stock valued at $188,000 after acquiring an additional 3,880 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in Amphastar Pharmaceuticals by 7.2% in the second quarter. Thrivent Financial For Lutherans now owns 21,610 shares of the company’s stock valued at $386,000 after acquiring an additional 1,460 shares during the last quarter. Hedge funds and other institutional investors own 44.14% of the company’s stock.
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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.
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