Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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 analysts also recently weighed in on AMPH. TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Amphastar Pharmaceuticals in a research report on Saturday, July 22nd. BidaskClub downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Piper Jaffray Companies set a $20.00 price objective on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, BMO Capital Markets reissued a “hold” rating and set a $16.00 price objective on shares of Amphastar Pharmaceuticals in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $20.17.
Shares of Amphastar Pharmaceuticals (NASDAQ AMPH) remained flat at $18.70 on Tuesday. The stock had a trading volume of 91,230 shares. The company has a market capitalization of $863.85 million, a price-to-earnings ratio of 242.86 and a beta of 1.69. Amphastar Pharmaceuticals has a one year low of $12.05 and a one year high of $21.75. The stock’s 50 day moving average price is $16.58 and its 200 day moving average price is $16.23.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $65.20 million during the quarter, compared to the consensus estimate of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. Amphastar Pharmaceuticals’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. Equities analysts expect that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current year.
Amphastar Pharmaceuticals declared that its Board of Directors has approved a share buyback program on Wednesday, August 9th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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In related news, Director Richard K. Prins sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $14.80, for a total value of $74,000.00. Following the completion of the transaction, the director now directly owns 33,844 shares of the company’s stock, valued at $500,891.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane G. Gerst sold 8,444 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $18.87, for a total value of $159,338.28. The disclosure for this sale can be found here. Insiders sold 126,380 shares of company stock valued at $2,268,933 over the last ninety days. 11.10% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AMPH. Victory Capital Management Inc. boosted its holdings in Amphastar Pharmaceuticals by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock valued at $100,000 after purchasing an additional 842 shares in the last quarter. SG Americas Securities LLC acquired a new position in Amphastar Pharmaceuticals in the second quarter valued at approximately $111,000. Municipal Employees Retirement System of Michigan boosted its holdings in 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 valued at $119,000 after purchasing an additional 290 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in Amphastar Pharmaceuticals by 7.0% in the first quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock valued at $122,000 after purchasing an additional 549 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Amphastar Pharmaceuticals by 77.2% in the second quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock valued at $125,000 after purchasing an additional 3,072 shares in the last quarter. 44.26% of the stock is owned by hedge funds and other institutional investors.
About Amphastar Pharmaceuticals
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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