Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)‘s stock had its “buy” rating reissued by investment analysts at Wells Fargo & Company in a research report issued on Saturday, July 22nd.
Other equities analysts have also issued research reports about the company. Jefferies Group LLC set a $21.00 price objective on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, April 20th. Zacks Investment Research lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Finally, TheStreet raised Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, June 26th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.86.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) traded up 3.33% during mid-day trading on Friday, hitting $15.22. The stock had a trading volume of 271,628 shares. The company has a market cap of $703.09 million, a PE ratio of 197.66 and a beta of 1.65. The stock’s 50-day moving average is $16.86 and its 200 day moving average is $15.89. Amphastar Pharmaceuticals has a 12 month low of $12.05 and a 12 month high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $65.20 million during the quarter, compared to analyst estimates of $63.40 million. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts forecast that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 9th that permits the company to buyback $20.00 million in shares. This buyback authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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In other news, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $17.07, for a total value of $170,700.00. Following the completion of the sale, the director now directly owns 28,844 shares of the company’s stock, valued at approximately $492,367.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason B. Shandell sold 11,482 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $16.92, for a total value of $194,275.44. Following the completion of the sale, the director now directly owns 241,342 shares of the company’s stock, valued at $4,083,506.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,482 shares of company stock valued at $842,225. 11.10% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of AMPH. Argent Capital Management LLC bought a new stake in Amphastar Pharmaceuticals during the second quarter valued at about $1,069,000. The Manufacturers Life Insurance Company raised its stake in Amphastar Pharmaceuticals by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock valued at $512,000 after buying an additional 312 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Amphastar Pharmaceuticals by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock valued at $23,786,000 after buying an additional 270,654 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Amphastar Pharmaceuticals by 72.0% in the second quarter. Parametric Portfolio Associates LLC now owns 45,615 shares of the company’s stock valued at $815,000 after buying an additional 19,091 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Amphastar Pharmaceuticals by 12.8% in the second quarter. Nordea Investment Management AB now owns 115,607 shares of the company’s stock valued at $2,065,000 after buying an additional 13,121 shares during the last quarter. 43.83% of the stock is owned by institutional investors and hedge funds.
Amphastar Pharmaceuticals Company Profile
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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