Wells Fargo & Company Increases Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target to $20.00

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its target price increased by Wells Fargo & Company from $19.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 7.81% from the stock’s previous close.

AMPH has been the subject of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Friday, May 8th. Zacks Research raised shares of Amphastar Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Jefferies Financial Group restated a “hold” rating and set a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, April 21st. Bank of America reaffirmed an “underperform” rating and issued a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, June 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $21.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Six investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $22.17.

Amphastar Pharmaceuticals Stock Performance

Shares of AMPH traded up $1.89 on Friday, reaching $21.70. 181,616 shares of the company’s stock traded hands, compared to its average volume of 524,090. The stock has a market cap of $956.53 million, a PE ratio of 13.16, a PEG ratio of 4.27 and a beta of 0.89. The company has a current ratio of 3.85, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The stock’s 50 day simple moving average is $19.63 and its two-hundred day simple moving average is $21.40. Amphastar Pharmaceuticals has a 52-week low of $16.65 and a 52-week high of $31.26.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.62 by $0.29. The business had revenue of $183.90 million for the quarter, compared to the consensus estimate of $179.92 million. Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%. On average, analysts forecast that Amphastar Pharmaceuticals will post 2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMPH. Quarry LP purchased a new position in shares of Amphastar Pharmaceuticals during the 3rd quarter valued at about $32,000. Farther Finance Advisors LLC raised its stake in shares of Amphastar Pharmaceuticals by 46.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock worth $37,000 after acquiring an additional 437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Amphastar Pharmaceuticals by 24.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock worth $60,000 after acquiring an additional 435 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 410.1% in the 4th quarter. TD Private Client Wealth LLC now owns 2,418 shares of the company’s stock worth $65,000 after acquiring an additional 1,944 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Amphastar Pharmaceuticals by 263.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,583 shares of the company’s stock valued at $82,000 after purchasing an additional 2,596 shares in the last quarter. Institutional investors own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.