Zacks Investment Research downgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a strong-buy rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.
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 research analysts also recently issued reports on AMPH. Piper Sandler raised Amphastar Pharmaceuticals from a neutral rating to an overweight rating and raised their price target for the company from $21.00 to $28.00 in a research report on Friday, January 7th. TheStreet raised Amphastar Pharmaceuticals from a c+ rating to a b rating in a research report on Wednesday, October 20th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $23.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Monday, November 8th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.22. The company had revenue of $112.20 million for the quarter, compared to the consensus estimate of $103.00 million. Amphastar Pharmaceuticals had a return on equity of 12.28% and a net margin of 8.74%. During the same period last year, the business posted $0.09 earnings per share. On average, equities analysts expect that Amphastar Pharmaceuticals will post 1.11 EPS for the current year.
In related news, CFO William J. Peters sold 31,776 shares of Amphastar Pharmaceuticals stock in a transaction dated Friday, January 7th. The stock was sold at an average price of $24.43, for a total transaction of $776,287.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rong Zhou sold 7,813 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, November 11th. The stock was sold at an average price of $21.67, for a total value of $169,307.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,308 shares of company stock worth $2,573,255. 28.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPH. Janus Henderson Group PLC boosted its holdings in Amphastar Pharmaceuticals by 74.9% during the third quarter. Janus Henderson Group PLC now owns 970,551 shares of the company’s stock valued at $18,450,000 after purchasing an additional 415,515 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Amphastar Pharmaceuticals by 97.6% during the third quarter. Nordea Investment Management AB now owns 555,644 shares of the company’s stock valued at $10,762,000 after purchasing an additional 274,476 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Amphastar Pharmaceuticals by 139.0% during the second quarter. Nuveen Asset Management LLC now owns 419,137 shares of the company’s stock valued at $8,450,000 after purchasing an additional 243,749 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Amphastar Pharmaceuticals by 101.8% during the second quarter. Wells Fargo & Company MN now owns 368,019 shares of the company’s stock valued at $7,419,000 after purchasing an additional 185,684 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Amphastar Pharmaceuticals by 1,092.8% during the third quarter. Millennium Management LLC now owns 196,938 shares of the company’s stock valued at $3,744,000 after purchasing an additional 180,428 shares in the last quarter. 58.18% of the stock is currently owned by institutional investors.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc engages in the development, manufacture, market, and sale of technically challenging and proprietary injectable, inhalation, and intranasal products. It operates through Finished Pharmaceutical Products and Active Pharmaceutical Ingredients Products segments. The Finished Pharmaceutical Products segment manufactures, markets, and distributes Primatene Mist, enoxaparin, naloxone, phytonadione, lidocaine, and other critical and non-critical care drugs.
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