Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target Cut to $23.00 by Analysts at Barclays

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its target price trimmed by Barclays from $30.00 to $23.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

AMPH has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research note on Monday, December 29th. Needham & Company LLC cut their price target on Amphastar Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Wells Fargo & Company cut their price target on Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Amphastar Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $28.33.

Amphastar Pharmaceuticals Price Performance

Amphastar Pharmaceuticals stock opened at $20.40 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.90 and a current ratio of 4.02. The firm has a market cap of $925.55 million, a P/E ratio of 10.05, a P/E/G ratio of 1.71 and a beta of 0.92. The business’s fifty day moving average is $23.17 and its two-hundred day moving average is $25.08. Amphastar Pharmaceuticals has a 52 week low of $17.03 and a 52 week high of $31.26.

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

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in Amphastar Pharmaceuticals by 2,864.4% in the fourth quarter. Pacer Advisors Inc. now owns 177,744 shares of the company’s stock valued at $4,760,000 after buying an additional 171,748 shares during the period. Invesco Ltd. grew its holdings in shares of Amphastar Pharmaceuticals by 28.7% during the fourth quarter. Invesco Ltd. now owns 501,404 shares of the company’s stock worth $13,428,000 after buying an additional 111,811 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Amphastar Pharmaceuticals by 10.7% during the fourth quarter. Vident Advisory LLC now owns 20,409 shares of the company’s stock worth $547,000 after buying an additional 1,978 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Amphastar Pharmaceuticals by 3.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,394,463 shares of the company’s stock valued at $37,344,000 after purchasing an additional 40,536 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Amphastar Pharmaceuticals by 10.8% during the fourth quarter. Empowered Funds LLC now owns 165,907 shares of the company’s stock valued at $4,443,000 after purchasing an additional 16,112 shares during the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

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.