Amphastar Pharmaceuticals (NASDAQ:AMPH) Given New $34.00 Price Target at Needham & Company LLC

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price objective lowered by Needham & Company LLC from $36.00 to $34.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

AMPH has been the subject of a number of other reports. Zacks Research raised Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Bank of America lifted their target price on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Piper Sandler decreased their price target on shares of Amphastar Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Amphastar Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $31.20.

Amphastar Pharmaceuticals Trading Down 0.8%

Shares of NASDAQ:AMPH traded down $0.20 during midday trading on Friday, reaching $24.03. 809,387 shares of the company’s stock were exchanged, compared to its average volume of 539,762. The firm’s 50 day simple moving average is $26.23 and its two-hundred day simple moving average is $25.27. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 9.00 and a beta of 0.77. Amphastar Pharmaceuticals has a fifty-two week low of $20.39 and a fifty-two week high of $49.53. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.29 and a quick ratio of 2.21.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10. 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 analysts’ expectations of $186.90 million. As a group, sell-side analysts forecast that Amphastar Pharmaceuticals will post 3.49 EPS for the current fiscal year.

Institutional Trading of Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its position in shares of Amphastar Pharmaceuticals by 147.7% during the 1st quarter. Signaturefd LLC now owns 872 shares of the company’s stock worth $25,000 after acquiring an additional 520 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Amphastar Pharmaceuticals by 356.0% during the third quarter. Farther Finance Advisors LLC now owns 944 shares of the company’s stock worth $25,000 after purchasing an additional 737 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Amphastar Pharmaceuticals by 219.0% during the third quarter. Global Retirement Partners LLC now owns 1,024 shares of the company’s stock worth $27,000 after purchasing an additional 703 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Amphastar Pharmaceuticals during the 1st quarter worth approximately $34,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Amphastar Pharmaceuticals by 192.8% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,262 shares of the company’s stock valued at $29,000 after buying an additional 831 shares in the last quarter. 65.09% of the stock is currently owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

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.