Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. The firm currently has $23.00 price target on the stock.
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. “
AMPH has been the subject of a number of other reports. Needham & Company LLC reissued a buy rating and set a $10.00 price objective on shares of Adesto Technologies in a research report on Wednesday, March 13th. Piper Jaffray Companies lowered their price objective on Sophiris Bio to $5.00 and set an overweight rating for the company in a research report on Wednesday, March 13th. TheStreet raised Patrick Industries from a c+ rating to a b- rating in a research report on Monday, March 18th. Wells Fargo & Co set a $29.00 price objective on Amphastar Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, June 6th. Finally, BidaskClub downgraded Zynerba Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $24.64.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.07. Amphastar Pharmaceuticals had a return on equity of 5.14% and a net margin of 0.74%. The business had revenue of $79.79 million during the quarter, compared to the consensus estimate of $76.21 million. During the same period in the previous year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was up 36.7% on a year-over-year basis. As a group, equities analysts forecast that Amphastar Pharmaceuticals will post 0.21 earnings per share for the current fiscal year.
In related news, General Counsel Jason B. Shandell sold 9,478 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $20.67, for a total value of $195,910.26. Following the completion of the transaction, the general counsel now directly owns 159,947 shares of the company’s stock, valued at $3,306,104.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rong Zhou sold 9,600 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $22.76, for a total value of $218,496.00. Following the completion of the transaction, the executive vice president now directly owns 66,707 shares of the company’s stock, valued at $1,518,251.32. The disclosure for this sale can be found here. Insiders sold 35,693 shares of company stock valued at $768,457 over the last ninety days. 30.80% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Gravity Wealth Inc. acquired a new position in Amphastar Pharmaceuticals in the first quarter valued at approximately $43,000. Quadrant Capital Group LLC acquired a new position in Amphastar Pharmaceuticals in the first quarter valued at approximately $53,000. Acadian Asset Management LLC acquired a new position in Amphastar Pharmaceuticals in the fourth quarter valued at approximately $63,000. BNP Paribas Arbitrage SA boosted its holdings in Amphastar Pharmaceuticals by 52,407.1% in the first quarter. BNP Paribas Arbitrage SA now owns 7,351 shares of the company’s stock valued at $150,000 after purchasing an additional 7,337 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Amphastar Pharmaceuticals in the fourth quarter valued at approximately $201,000. 47.64% of the stock is owned by hedge funds and other institutional investors.
About Amphastar Pharmaceuticals
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 France. The company operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients products.
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