Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) had its target price boosted by equities researchers at BMO Capital Markets from $16.00 to $17.00 in a note issued to investors on Friday. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential downside of 8.36% from the company’s current price.
Several other brokerages also recently weighed in on AMPH. Zacks Investment Research downgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies set a $19.00 target price on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Sunday, October 22nd. Wells Fargo & Company restated a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Saturday, July 22nd. Jefferies Group LLC set a $19.00 price objective on shares of Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research note on Sunday, October 29th. Finally, Raymond James Financial, Inc. downgraded shares of Amphastar Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $18.00 price objective for the company. in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $20.43.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded down $0.26 on Friday, reaching $18.55. 305,700 shares of the company’s stock traded hands, compared to its average volume of 194,598. The firm has a market capitalization of $852.85, a P/E ratio of 123.67, a price-to-earnings-growth ratio of 8.24 and a beta of 1.68. Amphastar Pharmaceuticals has a 52 week low of $12.05 and a 52 week high of $21.75. The company has a current ratio of 3.04, a quick ratio of 1.87 and a debt-to-equity ratio of 0.12.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, November 8th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company had revenue of $57.90 million during the quarter, compared to the consensus estimate of $57.23 million. Amphastar Pharmaceuticals had a net margin of 0.12% and a return on equity of 2.30%. Amphastar Pharmaceuticals’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.14 earnings per share. research analysts anticipate that Amphastar Pharmaceuticals will post 0.09 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals announced that its board has approved a stock 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, Director Richard K. Prins sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $14.81, for a total transaction of $148,100.00. Following the completion of the sale, the director now directly owns 33,844 shares in the company, valued at $501,229.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. Zasloff sold 63,624 shares of Amphastar Pharmaceuticals stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $18.18, for a total transaction of $1,156,684.32. Following the sale, the director now owns 101,879 shares of the company’s stock, valued at $1,852,160.22. The disclosure for this sale can be found here. Insiders have sold 170,285 shares of company stock valued at $3,079,995 over the last quarter. Insiders own 11.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors lifted its position in Amphastar Pharmaceuticals by 11.9% during the second quarter. Nationwide Fund Advisors now owns 49,266 shares of the company’s stock valued at $880,000 after purchasing an additional 5,233 shares during the period. OppenheimerFunds Inc. acquired a new position in Amphastar Pharmaceuticals during the first quarter valued at $215,000. Schwab Charles Investment Management Inc. lifted its position in Amphastar Pharmaceuticals by 7.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 218,080 shares of the company’s stock valued at $3,895,000 after purchasing an additional 14,646 shares during the period. Argent Capital Management LLC acquired a new position in Amphastar Pharmaceuticals during the second quarter valued at $1,069,000. Finally, Dimensional Fund Advisors LP lifted its position in Amphastar Pharmaceuticals by 32.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,061,188 shares of the company’s stock valued at $15,388,000 after purchasing an additional 260,288 shares during the period. Institutional investors own 43.98% of the company’s stock.
Amphastar Pharmaceuticals Company Profile
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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