Zacks Investment Research Lowers Amphastar Pharmaceuticals Inc. (AMPH) to Hold
Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday.
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. “
Several other analysts also recently commented on AMPH. Jefferies Group upped their price objective on Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating and set a $17.00 price objective on shares of Amphastar Pharmaceuticals in a research note on Tuesday, August 9th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Amphastar Pharmaceuticals in a research note on Wednesday, September 7th. Finally, Needham & Company LLC upped their price objective on Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $20.00.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded up 1.03% during mid-day trading on Monday, hitting $19.69. The stock had a trading volume of 311,932 shares. Amphastar Pharmaceuticals has a 52-week low of $10.50 and a 52-week high of $21.53. The company has a market cap of $888.43 million, a PE ratio of 63.93 and a beta of 1.83. 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 announced its earnings results on Monday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.22. The firm earned $68 million during the quarter, compared to analysts’ expectations of $62.10 million. Amphastar Pharmaceuticals had a return on equity of 4.71% and a net margin of 5.19%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) EPS. On average, equities analysts expect that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current fiscal year.
In other news, CFO William J. Peters sold 2,297 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $17.76, for a total transaction of $40,794.72. Following the completion of the transaction, the chief financial officer now directly owns 64,652 shares of the company’s stock, valued at approximately $1,148,219.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen B. Shohet sold 48,375 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $18.24, for a total value of $882,360.00. Following the transaction, the director now directly owns 28,653 shares of the company’s stock, valued at $522,630.72. The disclosure for this sale can be found here. Insiders own 29.30% of the company’s stock.
Several institutional investors have recently modified their holdings of AMPH. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Amphastar Pharmaceuticals during the first quarter worth about $180,000. Teachers Advisors Inc. boosted its stake in Amphastar Pharmaceuticals by 18.8% in the first quarter. Teachers Advisors Inc. now owns 492,136 shares of the company’s stock worth $5,906,000 after buying an additional 77,910 shares in the last quarter. Menta Capital LLC purchased a new stake in Amphastar Pharmaceuticals during the first quarter worth $533,000. UBS Asset Management Americas Inc. boosted its stake in Amphastar Pharmaceuticals by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 277,294 shares of the company’s stock worth $3,328,000 after buying an additional 25,095 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Amphastar Pharmaceuticals by 81.0% in the second quarter. Acadian Asset Management LLC now owns 818,620 shares of the company’s stock worth $13,195,000 after buying an additional 366,249 shares in the last quarter. 35.87% of the stock is owned by institutional investors and hedge funds.
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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