Amphastar Pharmaceuticals (NASDAQ:AMPH) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Amphastar Pharmaceuticals (NASDAQ:AMPH) announced its quarterly earnings data on Thursday. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10, FiscalAI reports. Amphastar Pharmaceuticals had a net margin of 18.64% and a return on equity of 20.76%. The firm had revenue of $191.84 million during the quarter, compared to analyst estimates of $186.90 million.

Amphastar Pharmaceuticals Stock Down 0.8%

NASDAQ:AMPH traded down $0.20 during midday trading on Friday, reaching $24.03. The company had a trading volume of 809,387 shares, compared to its average volume of 539,762. Amphastar Pharmaceuticals has a 12-month low of $20.39 and a 12-month high of $49.53. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.00 and a beta of 0.77. The company has a current ratio of 3.29, a quick ratio of 2.21 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $26.23 and its 200-day simple moving average is $25.27.

Analysts Set New Price Targets

Several research firms have weighed in on AMPH. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, October 8th. Bank of America raised their price target on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 26th. Piper Sandler cut their price objective on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. Needham & Company LLC decreased their target price on Amphastar Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Zacks Research upgraded Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.20.

Institutional Trading of Amphastar Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in Amphastar Pharmaceuticals by 263.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,583 shares of the company’s stock valued at $82,000 after acquiring an additional 2,596 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Amphastar Pharmaceuticals by 55.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,200 shares of the company’s stock valued at $96,000 after purchasing an additional 1,500 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at approximately $259,000. PDT Partners LLC acquired a new stake in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at $336,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Amphastar Pharmaceuticals during the 2nd quarter worth $362,000. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.