Amphastar Pharmaceuticals, Inc. (AMPH) Expected to Announce Quarterly Sales of $69.05 Million
Wall Street brokerages predict that Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) will announce $69.05 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Amphastar Pharmaceuticals’ earnings. The highest sales estimate is $82.05 million and the lowest is $58.90 million. Amphastar Pharmaceuticals reported sales of $63.54 million during the same quarter last year, which indicates a positive year over year growth rate of 8.7%. The company is expected to issue its next quarterly earnings results on Monday, March 12th.
On average, analysts expect that Amphastar Pharmaceuticals will report full-year sales of $69.05 million for the current financial year, with estimates ranging from $236.90 million to $260.78 million. For the next financial year, analysts expect that the business will report sales of $322.84 million per share, with estimates ranging from $306.70 million to $346.77 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Amphastar Pharmaceuticals.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Wednesday, November 8th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The business had revenue of $57.90 million during the quarter, compared to analysts’ expectations of $57.23 million. Amphastar Pharmaceuticals had a return on equity of 2.30% and a net margin of 0.12%. Amphastar Pharmaceuticals’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share.
AMPH has been the subject of several recent analyst reports. Zacks Investment Research cut Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. ValuEngine cut Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. BMO Capital Markets lifted their price objective on Amphastar Pharmaceuticals from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday. Piper Jaffray Companies set a $19.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Raymond James Financial, Inc. cut Amphastar Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research report on Thursday. Two investment 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’s stock. Amphastar Pharmaceuticals has an average rating of “Hold” and a consensus target price of $20.43.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down $0.26 during trading on Monday, hitting $18.55. The stock had a trading volume of 305,700 shares, compared to its average volume of 294,911. The firm has a market capitalization of $852.85, a PE ratio of 123.67, a PEG ratio of 8.24 and a beta of 1.68. The company has a current ratio of 3.08, a quick ratio of 1.86 and a debt-to-equity ratio of 0.13. Amphastar Pharmaceuticals has a 1-year low of $12.05 and a 1-year high of $21.75.
Amphastar Pharmaceuticals declared that its board has authorized a stock buyback plan on Wednesday, August 9th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other news, EVP Diane G. Gerst sold 8,444 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $18.87, for a total value of $159,338.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William J. Peters sold 3,026 shares of Amphastar Pharmaceuticals stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $18.56, for a total value of $56,162.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,285 shares of company stock worth $3,005,995. Corporate insiders own 11.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of AMPH. Municipal Employees Retirement System of Michigan increased its stake in shares of Amphastar Pharmaceuticals by 3.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock worth $119,000 after purchasing an additional 290 shares during the period. OppenheimerFunds Inc. bought a new position in shares of Amphastar Pharmaceuticals in the first quarter worth about $215,000. Principal Financial Group Inc. increased its stake in shares of Amphastar Pharmaceuticals by 3.4% in the first quarter. Principal Financial Group Inc. now owns 290,535 shares of the company’s stock worth $4,213,000 after purchasing an additional 9,592 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Amphastar Pharmaceuticals by 3.7% in the first quarter. Thrivent Financial For Lutherans now owns 20,150 shares of the company’s stock worth $292,000 after purchasing an additional 710 shares during the period. Finally, Vanguard Group Inc. increased its stake in Amphastar Pharmaceuticals by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,179,764 shares of the company’s stock valued at $31,607,000 after acquiring an additional 8,744 shares during the period. Institutional investors and hedge funds own 43.89% of the company’s stock.
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Amphastar Pharmaceuticals Company Profile
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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