Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a strong sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Amphastar Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses primarily on developing, manufacturing, marketing, and selling generic and proprietary injectable and inhalation products. The company products include Enoxaparin Sodium Injection; Amphadase; Cortrosyn for Injection; and prefilled disposable emergency syringes for crash cart use. Amphastar Pharmaceuticals, Inc. is headquartered in Rancho Cucamonga, California. “
Other analysts have also recently issued reports about the stock. Jefferies Financial Group reiterated a buy rating and issued a $26.00 target price on shares of Amphastar Pharmaceuticals in a research note on Wednesday, November 14th. Needham & Company LLC set a $25.00 target price on shares of Amphastar Pharmaceuticals and gave the stock a buy rating in a research note on Friday, November 9th. Wells Fargo & Co reiterated a buy rating on shares of Amphastar Pharmaceuticals in a research note on Friday, November 9th. Finally, BidaskClub cut shares of Amphastar Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Thursday, September 13th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Amphastar Pharmaceuticals has a consensus rating of Buy and an average price target of $23.60.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results on Thursday, November 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $75.54 million during the quarter, compared to analysts’ expectations of $76.84 million. Amphastar Pharmaceuticals had a negative net margin of 2.33% and a positive return on equity of 2.80%. Amphastar Pharmaceuticals’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period last year, the business earned $0.07 EPS. As a group, equities research analysts forecast that Amphastar Pharmaceuticals will post -0.06 EPS for the current fiscal year.
In other Amphastar Pharmaceuticals news, insider Jason B. Shandell sold 16,630 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $22.44, for a total transaction of $373,177.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William J. Peters sold 3,245 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $19.52, for a total transaction of $63,342.40. Following the sale, the chief financial officer now owns 75,550 shares of the company’s stock, valued at $1,474,736. The disclosure for this sale can be found here. Insiders sold a total of 448,871 shares of company stock valued at $9,541,226 over the last quarter. 31.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Amphastar Pharmaceuticals during the 2nd quarter valued at approximately $161,000. Nisa Investment Advisors LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the third quarter worth $221,000. Paloma Partners Management Co purchased a new stake in shares of Amphastar Pharmaceuticals during the third quarter worth $223,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the second quarter worth $295,000. Finally, Man Group plc grew its holdings in shares of Amphastar Pharmaceuticals by 55.1% in the third quarter. Man Group plc now owns 18,451 shares of the company’s stock valued at $355,000 after purchasing an additional 6,556 shares during the period. Institutional investors and hedge funds own 44.72% of the company’s stock.
Amphastar Pharmaceuticals Company Profile
Amphastar Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States and internationally. It operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients.
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