Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $21.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 9.55% from the stock’s previous close.
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. “
A number of other brokerages have also issued reports on AMPH. Needham & Company LLC increased their target price on Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $23.00 target price (up previously from $22.00) on shares of Amphastar Pharmaceuticals in a research report on Wednesday, September 7th. BMO Capital Markets started coverage on Amphastar Pharmaceuticals in a research report on Tuesday, June 28th. They set a “market perform” rating and a $17.00 target price on the stock. Finally, Jefferies Group increased their target price on Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $20.00.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down 2.64% during midday trading on Tuesday, reaching $19.17. 630,559 shares of the company traded hands. The firm has a market capitalization of $864.97 million, a PE ratio of 62.24 and a beta of 1.83. Amphastar Pharmaceuticals has a 1-year low of $10.50 and a 1-year high of $21.53. The stock has a 50 day moving average price of $19.31 and a 200 day moving average price of $16.16.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.22. The business had revenue of $68 million for the quarter, compared to analysts’ expectations of $62.10 million. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) EPS. Analysts expect that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current fiscal year.
In other Amphastar Pharmaceuticals news, CEO Jack Y. Zhang sold 444,199 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $21.03, for a total value of $9,341,504.97. Following the transaction, the chief executive officer now owns 1,295,685 shares in the company, valued at approximately $27,248,255.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jason B. Shandell sold 5,636 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $18.01, for a total value of $101,504.36. Following the completion of the transaction, the president now owns 208,948 shares in the company, valued at approximately $3,763,153.48. The disclosure for this sale can be found here. 29.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AMPH. BlackRock Fund Advisors raised its position in shares of Amphastar Pharmaceuticals by 7.1% in the second quarter. BlackRock Fund Advisors now owns 1,503,059 shares of the company’s stock worth $24,229,000 after buying an additional 100,111 shares during the last quarter. Vanguard Group Inc. raised its position in Amphastar Pharmaceuticals by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,499,766 shares of the company’s stock valued at $24,175,000 after buying an additional 68,048 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Amphastar Pharmaceuticals by 45.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 824,113 shares of the company’s stock valued at $13,285,000 after buying an additional 256,940 shares in the last quarter. Acadian Asset Management LLC raised its position in Amphastar Pharmaceuticals by 81.0% in the second quarter. Acadian Asset Management LLC now owns 818,620 shares of the company’s stock valued at $13,195,000 after buying an additional 366,249 shares in the last quarter. Finally, Teachers Advisors Inc. raised its position in Amphastar Pharmaceuticals by 4.8% in the second quarter. Teachers Advisors Inc. now owns 515,560 shares of the company’s stock valued at $8,311,000 after buying an additional 23,424 shares in the last quarter. Institutional investors own 35.87% of the company’s stock.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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