Amphastar Pharmaceuticals (NASDAQ:AMPH) Posts Earnings Results, Beats Estimates By $0.10 EPS

Amphastar Pharmaceuticals (NASDAQ:AMPH) posted its earnings results on Thursday. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.10, FiscalAI reports. Amphastar Pharmaceuticals had a return on equity of 20.76% and a net margin of 18.64%.The firm had revenue of $191.84 million during the quarter, compared to analyst estimates of $186.90 million.

Amphastar Pharmaceuticals Stock Performance

Shares of NASDAQ AMPH traded down $0.20 during mid-day trading on Friday, hitting $24.03. The company had a trading volume of 809,387 shares, compared to its average volume of 539,762. Amphastar Pharmaceuticals has a 12 month low of $20.39 and a 12 month high of $49.53. The firm has a market cap of $1.12 billion, a P/E ratio of 9.00 and a beta of 0.77. The business’s 50-day simple moving average is $26.23 and its 200-day simple moving average is $25.27. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.29 and a quick ratio of 2.21.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, October 8th. Bank of America raised their price target on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Zacks Research upgraded Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Piper Sandler cut their price objective on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 8th. Finally, Needham & Company LLC decreased their target price on Amphastar Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Friday. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

Institutional Trading of Amphastar Pharmaceuticals

Several institutional investors have recently modified their holdings of AMPH. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Amphastar Pharmaceuticals by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,489 shares of the company’s stock valued at $652,000 after purchasing an additional 613 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Amphastar Pharmaceuticals by 55.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,200 shares of the company’s stock valued at $96,000 after buying an additional 1,500 shares during the period. Tower Research Capital LLC TRC increased its holdings in 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 buying an additional 2,596 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Amphastar Pharmaceuticals by 5.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 125,363 shares of the company’s stock valued at $2,878,000 after buying an additional 6,478 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at $259,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

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.