Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target Lowered to $23.00 at Barclays

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price target cut by Barclays from $30.00 to $23.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 12.06% from the company’s previous close.

Several other equities research analysts have also recently issued reports on AMPH. Needham & Company LLC decreased their price objective on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wells Fargo & Company decreased their price objective on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.33.

Amphastar Pharmaceuticals Stock Down 0.3%

Shares of Amphastar Pharmaceuticals stock traded down $0.06 during trading on Wednesday, hitting $20.53. 63,154 shares of the stock were exchanged, compared to its average volume of 472,116. The stock has a market cap of $931.22 million, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92. The firm’s 50-day moving average price is $23.29 and its 200 day moving average price is $25.12. Amphastar Pharmaceuticals has a 12-month low of $17.03 and a 12-month high of $31.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.02 and a quick ratio of 2.90.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.24). The firm had revenue of $183.11 million for the quarter, compared to analysts’ expectations of $190.48 million. Amphastar Pharmaceuticals had a return on equity of 17.58% and a net margin of 13.63%. As a group, analysts forecast that Amphastar Pharmaceuticals will post 3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund lifted its position in Amphastar Pharmaceuticals by 86.4% in the third quarter. New York State Common Retirement Fund now owns 90,169 shares of the company’s stock valued at $2,403,000 after acquiring an additional 41,800 shares during the last quarter. SummerHaven Investment Management LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at about $1,018,000. Rice Hall James & Associates LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at about $3,447,000. SG Americas Securities LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the fourth quarter valued at about $2,504,000. Finally, Denali Advisors LLC purchased a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at about $3,598,000. 65.09% of the stock is owned by hedge funds and other institutional investors.

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.