Amphastar Pharmaceuticals (AMPH) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a hold rating to a strong sell rating in a report released on Tuesday morning.

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. “

Other equities analysts also recently issued reports about the stock. ValuEngine upgraded shares of Amphastar Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, May 2nd. BMO Capital Markets restated a market perform rating and issued a $19.00 price target (up from $17.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, March 13th. BidaskClub upgraded shares of Amphastar Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, March 13th. Needham & Company LLC restated a buy rating and issued a $24.00 price target (up from $23.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, March 13th. Finally, Piper Jaffray restated a buy rating and issued a $26.00 price target on shares of Amphastar Pharmaceuticals in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $21.33.

Amphastar Pharmaceuticals opened at $16.63 on Tuesday, Marketbeat reports. Amphastar Pharmaceuticals has a one year low of $14.40 and a one year high of $20.45. The firm has a market capitalization of $756.08 million, a price-to-earnings ratio of 70.52, a P/E/G ratio of 2.42 and a beta of 1.42. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.53 and a current ratio of 2.40.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, May 9th. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.13). Amphastar Pharmaceuticals had a negative net margin of 1.50% and a positive return on equity of 3.39%. The company had revenue of $58.40 million during the quarter, compared to analyst estimates of $60.75 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Amphastar Pharmaceuticals’s revenue for the quarter was up 3.0% on a year-over-year basis. analysts predict that Amphastar Pharmaceuticals will post 0.3 earnings per share for the current fiscal year.

In related news, CFO William J. Peters sold 19,801 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $20.10, for a total value of $398,000.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jack Y. Zhang purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was acquired at an average price of $16.08 per share, for a total transaction of $402,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,065,619 shares of the company’s stock, valued at approximately $33,215,153.52. The disclosure for this purchase can be found here. Insiders sold 57,099 shares of company stock worth $1,131,215 over the last 90 days. 31.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in AMPH. Rhumbline Advisers grew its stake in Amphastar Pharmaceuticals by 13.3% during the fourth quarter. Rhumbline Advisers now owns 80,688 shares of the company’s stock worth $1,552,000 after buying an additional 9,455 shares in the last quarter. Swiss National Bank grew its stake in Amphastar Pharmaceuticals by 11.8% during the fourth quarter. Swiss National Bank now owns 66,400 shares of the company’s stock worth $1,278,000 after buying an additional 7,000 shares in the last quarter. Fisher Asset Management LLC grew its stake in Amphastar Pharmaceuticals by 8.1% during the fourth quarter. Fisher Asset Management LLC now owns 229,277 shares of the company’s stock worth $4,411,000 after buying an additional 17,094 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Amphastar Pharmaceuticals by 17.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,558,113 shares of the company’s stock worth $27,844,000 after buying an additional 226,271 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Amphastar Pharmaceuticals by 156.1% during the fourth quarter. Wells Fargo & Company MN now owns 176,323 shares of the company’s stock worth $3,392,000 after buying an additional 107,486 shares in the last quarter. Institutional investors and hedge funds own 44.94% 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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