Amphastar Pharmaceuticals’ (AMPH) Buy Rating Reaffirmed at Wells Fargo & Co

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Wells Fargo & Co reaffirmed their buy rating on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a research note released on Friday morning.

A number of other equities analysts have also recently issued reports on AMPH. BidaskClub upgraded Amphastar Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, August 9th. Needham & Company LLC cut their price target on Amphastar Pharmaceuticals from $24.00 to $22.00 and set a buy rating on the stock in a report on Friday, August 10th. Zacks Investment Research cut Amphastar Pharmaceuticals from a hold rating to a sell rating in a report on Friday, August 10th. Finally, ValuEngine upgraded Amphastar Pharmaceuticals from a hold rating to a buy rating in a report on Friday, August 17th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Amphastar Pharmaceuticals has an average rating of Buy and a consensus target price of $23.00.

Shares of Amphastar Pharmaceuticals stock traded up $0.88 on Friday, reaching $21.59. 735,306 shares of the company’s stock were exchanged, compared to its average volume of 117,925. The stock has a market capitalization of $890.44 million, a price-to-earnings ratio of 56.82, a PEG ratio of 8.77 and a beta of 1.38. Amphastar Pharmaceuticals has a 52 week low of $14.40 and a 52 week high of $21.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.24 and a current ratio of 1.94.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $75.54 million for the quarter, compared to analysts’ expectations of $76.84 million. Amphastar Pharmaceuticals had a positive return on equity of 2.15% and a negative net margin of 3.39%. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. On average, equities research analysts forecast that Amphastar Pharmaceuticals will post 0.1 EPS for the current year.

In related news, Director Richard K. Prins sold 10,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $17.82, for a total value of $178,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William J. Peters sold 2,407 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $17.59, for a total value of $42,339.13. Following the completion of the transaction, the chief financial officer now owns 86,836 shares in the company, valued at $1,527,445.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,502 shares of company stock worth $558,373. 31.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of AMPH. Piedmont Investment Advisors LLC bought a new position in shares of Amphastar Pharmaceuticals in the 2nd quarter worth $128,000. Meeder Asset Management Inc. lifted its holdings in shares of Amphastar Pharmaceuticals by 259.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,486 shares of the company’s stock worth $160,000 after purchasing an additional 7,572 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Amphastar Pharmaceuticals in the 2nd quarter worth $161,000. Nisa Investment Advisors LLC purchased a new stake in Amphastar Pharmaceuticals in the 3rd quarter valued at $221,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Amphastar Pharmaceuticals in the 2nd quarter valued at $295,000. Institutional investors own 42.86% 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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