Amphastar Pharmaceuticals (NASDAQ:AMPH) Given New $20.00 Price Target at Wells Fargo & Company

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price target hoisted by research analysts at Wells Fargo & Company from $19.00 to $20.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 7.81% from the company’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, July 8th. Zacks Research upgraded shares of Amphastar Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Bank of America reaffirmed an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a research note on Monday, June 29th. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Friday, May 8th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Amphastar Pharmaceuticals has an average rating of “Reduce” and an average price target of $22.17.

Amphastar Pharmaceuticals Trading Up 9.5%

Shares of AMPH traded up $1.89 during trading hours on Friday, hitting $21.70. The company had a trading volume of 181,616 shares, compared to its average volume of 524,090. Amphastar Pharmaceuticals has a 52-week low of $16.65 and a 52-week high of $31.26. The company has a quick ratio of 2.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.79. The stock’s 50 day moving average price is $19.63 and its 200 day moving average price is $21.40. The firm has a market cap of $956.53 million, a P/E ratio of 13.16, a P/E/G ratio of 4.27 and a beta of 0.89.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Thursday, August 6th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.29. Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%.The company had revenue of $183.90 million during the quarter, compared to analysts’ expectations of $179.92 million. On average, research analysts predict that Amphastar Pharmaceuticals will post 2.25 EPS for the current year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Amphastar Pharmaceuticals during the 3rd quarter valued at about $32,000. Farther Finance Advisors LLC raised its stake in Amphastar Pharmaceuticals by 46.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock worth $37,000 after buying an additional 437 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Amphastar Pharmaceuticals by 24.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock worth $60,000 after buying an additional 435 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Amphastar Pharmaceuticals by 410.1% in the fourth quarter. TD Private Client Wealth LLC now owns 2,418 shares of the company’s stock worth $65,000 after buying an additional 1,944 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Amphastar Pharmaceuticals by 263.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,583 shares of the company’s stock valued at $82,000 after acquiring an additional 2,596 shares in the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

About Amphastar Pharmaceuticals

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.