Zacks Research Upgrades Amphastar Pharmaceuticals (NASDAQ:AMPH) to “Hold”

Amphastar Pharmaceuticals (NASDAQ:AMPH) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on AMPH. Wells Fargo & Company reiterated an “equal weight” rating and set a $19.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Thursday, May 14th. Bank of America reaffirmed an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, June 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Piper Sandler reiterated a “neutral” rating and set a $21.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Finally, Barclays reduced their price target on Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $22.00.

Amphastar Pharmaceuticals Stock Down 1.5%

AMPH stock opened at $19.30 on Tuesday. The company has a 50 day moving average of $19.26 and a two-hundred day moving average of $21.99. The company has a market cap of $850.94 million, a price-to-earnings ratio of 11.63, a PEG ratio of 3.85 and a beta of 0.89. Amphastar Pharmaceuticals has a 12-month low of $16.65 and a 12-month high of $31.26. The company has a quick ratio of 2.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.79.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.28). Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%. The company had revenue of $171.17 million for the quarter, compared to analysts’ expectations of $173.46 million. On average, equities analysts anticipate that Amphastar Pharmaceuticals will post 2.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in Amphastar Pharmaceuticals during the third quarter worth $32,000. Farther Finance Advisors LLC lifted its position in shares of Amphastar Pharmaceuticals by 46.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock worth $37,000 after buying an additional 437 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Amphastar Pharmaceuticals by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock worth $45,000 after acquiring an additional 462 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Amphastar Pharmaceuticals by 24.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock worth $60,000 after acquiring an additional 435 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Amphastar Pharmaceuticals by 410.1% during the 4th quarter. TD Private Client Wealth LLC now owns 2,418 shares of the company’s stock valued at $65,000 after acquiring an additional 1,944 shares during the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

About Amphastar Pharmaceuticals

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.