Piper Sandler Reaffirms Overweight Rating for Amphastar Pharmaceuticals (NASDAQ:AMPH)

Piper Sandler restated their overweight rating on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $71.00 target price on the stock.

AMPH has been the topic of several other reports. JPMorgan Chase & Co. assumed coverage on shares of Amphastar Pharmaceuticals in a research report on Tuesday, March 5th. They set an overweight rating and a $60.00 price objective on the stock. Needham & Company LLC reaffirmed a hold rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, May 22nd. Finally, StockNews.com raised Amphastar Pharmaceuticals from a hold rating to a buy rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $66.00.

Amphastar Pharmaceuticals Stock Performance

Shares of NASDAQ AMPH opened at $40.00 on Thursday. Amphastar Pharmaceuticals has a 1 year low of $38.43 and a 1 year high of $67.66. The firm has a market cap of $1.96 billion, a P/E ratio of 13.84, a PEG ratio of 0.82 and a beta of 0.82. The stock has a fifty day moving average price of $41.61 and a two-hundred day moving average price of $47.76. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.72 and a current ratio of 2.18.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.20. Amphastar Pharmaceuticals had a return on equity of 29.17% and a net margin of 22.88%. The firm had revenue of $171.84 million for the quarter, compared to the consensus estimate of $171.13 million. Research analysts forecast that Amphastar Pharmaceuticals will post 3.6 EPS for the current fiscal year.

Insider Activity

In related news, CFO William J. Peters sold 3,596 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $40.93, for a total transaction of $147,184.28. Following the completion of the sale, the chief financial officer now directly owns 94,103 shares of the company’s stock, valued at approximately $3,851,635.79. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 3,596 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $40.93, for a total transaction of $147,184.28. Following the completion of the transaction, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $3,851,635.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Floyd F. Petersen sold 3,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $41.40, for a total transaction of $124,200.00. Following the sale, the director now owns 78,409 shares of the company’s stock, valued at $3,246,132.60. The disclosure for this sale can be found here. Insiders have sold a total of 7,596 shares of company stock valued at $313,544 over the last 90 days. 27.10% of the stock is currently owned by company insiders.

Institutional Trading of Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. bought a new stake in shares of Amphastar Pharmaceuticals in the first quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in Amphastar Pharmaceuticals in the 4th quarter valued at $28,000. Principal Securities Inc. acquired a new stake in Amphastar Pharmaceuticals in the 4th quarter worth $34,000. Quadrant Capital Group LLC increased its holdings in shares of Amphastar Pharmaceuticals by 27.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,026 shares of the company’s stock worth $63,000 after purchasing an additional 223 shares during the period. Finally, EMC Capital Management bought a new position in shares of Amphastar Pharmaceuticals during the 1st quarter worth about $137,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.