Amphastar Pharmaceuticals’ (AMPH) Underperform Rating Reiterated at Bank of America

Amphastar Pharmaceuticals (NASDAQ:AMPH)‘s stock had its “underperform” rating reiterated by stock analysts at Bank of America in a note issued to investors on Monday,Benzinga reports. They presently have a $20.00 price objective on the stock, down from their previous price objective of $25.00. Bank of America‘s price objective would suggest a potential downside of 8.17% from the company’s previous close.

A number of other research analysts also recently issued reports on AMPH. Piper Sandler reiterated a “neutral” rating and set a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, May 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Thursday, May 14th. Zacks Research cut shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, June 22nd. Weiss Ratings downgraded shares of Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Finally, Barclays dropped their target price on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amphastar Pharmaceuticals presently has an average rating of “Reduce” and an average target price of $22.00.

Amphastar Pharmaceuticals Price Performance

Shares of Amphastar Pharmaceuticals stock opened at $21.78 on Monday. The stock has a market cap of $960.35 million, a P/E ratio of 13.12, a P/E/G ratio of 4.28 and a beta of 0.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85. The stock’s fifty day moving average is $19.89 and its 200 day moving average is $22.85. Amphastar Pharmaceuticals has a one year low of $16.65 and a one year high of $31.26.

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

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Amphastar Pharmaceuticals by 24.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock valued at $60,000 after acquiring an additional 435 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 46.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock valued at $37,000 after purchasing an additional 437 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Amphastar Pharmaceuticals by 5.3% during the fourth quarter. ProShare Advisors LLC now owns 9,083 shares of the company’s stock valued at $243,000 after purchasing an additional 457 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Amphastar Pharmaceuticals by 2.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 19,397 shares of the company’s stock worth $478,000 after purchasing an additional 459 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Amphastar Pharmaceuticals by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock worth $45,000 after purchasing an additional 462 shares during the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

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.