Amphastar Pharmaceuticals, Inc. (AMPH) Receives $18.00 Average Target Price from Analysts
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) has received a consensus recommendation of “Hold” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.00.
A number of analysts have weighed in on the stock. Piper Jaffray Companies set a $20.00 target price on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Saturday, July 29th. BidaskClub lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research lowered shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. BMO Capital Markets restated a “hold” rating and issued a $16.00 target price on shares of Amphastar Pharmaceuticals in a research report on Monday, July 31st. Finally, ValuEngine lowered shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday.
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In other news, Director Richard K. Prins sold 5,000 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, August 14th. The shares were sold at an average price of $14.80, for a total transaction of $74,000.00. Following the transaction, the director now owns 33,844 shares in the company, valued at $500,891.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jason B. Shandell sold 11,482 shares of Amphastar Pharmaceuticals stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $16.92, for a total transaction of $194,275.44. Following the transaction, the director now owns 241,342 shares in the company, valued at approximately $4,083,506.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,482 shares of company stock worth $842,225. 11.10% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Alps Advisors Inc. raised its position in shares of Amphastar Pharmaceuticals by 0.3% in the second quarter. Alps Advisors Inc. now owns 39,250 shares of the company’s stock worth $701,000 after buying an additional 101 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Amphastar Pharmaceuticals by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock worth $212,000 after buying an additional 200 shares during the period. Arizona State Retirement System raised its position in Amphastar Pharmaceuticals by 1.1% in the first quarter. Arizona State Retirement System now owns 18,700 shares of the company’s stock valued at $271,000 after buying an additional 200 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position 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 buying an additional 230 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Amphastar Pharmaceuticals by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock valued at $512,000 after buying an additional 312 shares during the last quarter. Institutional investors own 43.83% of the company’s stock.
Amphastar Pharmaceuticals (AMPH) traded up 0.97% during mid-day trading on Tuesday, reaching $15.58. The company had a trading volume of 110,168 shares. The company’s 50 day moving average is $16.60 and its 200 day moving average is $15.87. The stock has a market capitalization of $719.72 million, a price-to-earnings ratio of 202.34 and a beta of 1.65. Amphastar Pharmaceuticals has a 52-week low of $12.05 and a 52-week high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The firm had revenue of $65.20 million for the quarter, compared to analyst estimates of $63.40 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts predict that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current year.
Amphastar Pharmaceuticals declared that its Board of Directors has approved a share repurchase program on Wednesday, August 9th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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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