Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $21.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 9.55% from the company’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. “

Several other equities analysts also recently weighed in on AMPH. Needham & Company LLC lifted their price target on shares of Amphastar Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Jefferies Group boosted their target price on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $23.00 target price (up previously from $22.00) on shares of Amphastar Pharmaceuticals in a report on Wednesday, September 7th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $17.00 target price on shares of Amphastar Pharmaceuticals in a report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $20.00.

Analyst Recommendations for Amphastar Pharmaceuticals (NASDAQ:AMPH)

Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down 2.64% during trading on Tuesday, hitting $19.17. 630,559 shares of the company traded hands. The stock has a market capitalization of $864.97 million, a PE ratio of 62.24 and a beta of 1.83. The company’s 50 day moving average is $19.31 and its 200-day moving average is $16.16. Amphastar Pharmaceuticals has a 52 week low of $10.50 and a 52 week high of $21.53.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.22. Amphastar Pharmaceuticals had a net margin of 5.19% and a return on equity of 4.71%. The business had revenue of $68 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts predict that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current year.

In related news, EVP Diane G. Gerst sold 24,046 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $19.28, for a total value of $463,606.88. Following the sale, the executive vice president now owns 39,031 shares in the company, valued at $752,517.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Y. Zhang sold 444,199 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $21.03, for a total transaction of $9,341,504.97. Following the completion of the sale, the chief executive officer now owns 1,295,685 shares in the company, valued at approximately $27,248,255.55. The disclosure for this sale can be found here. 29.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in AMPH. BlackRock Fund Advisors boosted its stake 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 valued at $24,229,000 after buying an additional 100,111 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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.

5 Day Chart for NASDAQ:AMPH

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