Amphastar Pharmaceuticals (AMPH) Upgraded to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a sell rating to a hold rating in a research note issued to investors 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. “

Several other brokerages have also recently issued reports on AMPH. BidaskClub upgraded shares of Amphastar Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Wednesday, September 5th. ValuEngine upgraded shares of Amphastar Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, August 17th. Finally, Needham & Company LLC decreased their target price on shares of Amphastar Pharmaceuticals from $24.00 to $22.00 and set a buy rating on the stock in a research report on Friday, August 10th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $21.00.

Shares of NASDAQ AMPH opened at $18.06 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.24 and a current ratio of 1.94. The stock has a market cap of $889.97 million, a PE ratio of 47.53, a price-to-earnings-growth ratio of 8.77 and a beta of 1.42. Amphastar Pharmaceuticals has a 12-month low of $14.40 and a 12-month high of $20.45.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). The business had revenue of $71.00 million for the quarter, compared to analysts’ expectations of $64.22 million. Amphastar Pharmaceuticals had a negative net margin of 3.39% and a positive return on equity of 2.15%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. As a group, sell-side analysts expect that Amphastar Pharmaceuticals will post 0.1 EPS for the current year.

In related news, Director Richard K. Prins sold 10,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $17.82, for a total value of $178,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William J. Peters sold 2,407 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $17.59, for a total transaction of $42,339.13. Following the completion of the sale, the chief financial officer now directly owns 86,836 shares in the company, valued at $1,527,445.24. The disclosure for this sale can be found here. 31.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in Amphastar Pharmaceuticals in the 2nd quarter worth about $295,000. Renaissance Technologies LLC raised its position in Amphastar Pharmaceuticals by 76.6% in the 2nd quarter. Renaissance Technologies LLC now owns 91,100 shares of the company’s stock worth $1,390,000 after purchasing an additional 39,500 shares during the period. Federated Investors Inc. PA raised its position in Amphastar Pharmaceuticals by 21.6% in the 2nd quarter. Federated Investors Inc. PA now owns 1,276,552 shares of the company’s stock worth $19,480,000 after purchasing an additional 227,142 shares during the period. Cortina Asset Management LLC raised its position in Amphastar Pharmaceuticals by 49.9% in the 2nd quarter. Cortina Asset Management LLC now owns 392,296 shares of the company’s stock worth $5,986,000 after purchasing an additional 130,604 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Amphastar Pharmaceuticals by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,769,533 shares of the company’s stock worth $27,004,000 after purchasing an additional 84,085 shares during the period. 43.32% of the stock is currently owned by 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 internationally. It operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients.

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