Amphastar Pharmaceuticals (NASDAQ:AMPH) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Amphastar Pharmaceuticals (NASDAQ:AMPH) posted its earnings results on Thursday. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.10, FiscalAI reports. Amphastar Pharmaceuticals had a net margin of 18.64% and a return on equity of 20.76%. The firm had revenue of $191.84 million for the quarter, compared to analyst estimates of $186.90 million.

Amphastar Pharmaceuticals Price Performance

AMPH stock traded down $0.20 during mid-day trading on Friday, reaching $24.03. 809,387 shares of the company traded hands, compared to its average volume of 539,762. Amphastar Pharmaceuticals has a 52-week low of $20.39 and a 52-week high of $49.53. The company has a market capitalization of $1.12 billion, a P/E ratio of 9.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.29 and a quick ratio of 2.21. The company has a fifty day moving average price of $26.23 and a 200-day moving average price of $25.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd raised its stake in Amphastar Pharmaceuticals by 81.3% in the second quarter. Qube Research & Technologies Ltd now owns 469,492 shares of the company’s stock worth $10,780,000 after buying an additional 210,511 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Amphastar Pharmaceuticals by 64.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 266,306 shares of the company’s stock worth $6,114,000 after acquiring an additional 104,168 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at approximately $1,954,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Amphastar Pharmaceuticals during the second quarter valued at approximately $1,865,000. Finally, First Trust Advisors LP grew its stake in Amphastar Pharmaceuticals by 428.3% in the second quarter. First Trust Advisors LP now owns 94,305 shares of the company’s stock worth $2,165,000 after purchasing an additional 76,453 shares during the period. 65.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMPH shares. Needham & Company LLC cut their target price on Amphastar Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler reduced their target price on shares of Amphastar Pharmaceuticals from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 8th. Bank of America raised their price target on shares of Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.20.

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.