Brokerages Anticipate Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) Will Announce Quarterly Sales of $75.82 Million

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Analysts expect that Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) will announce sales of $75.82 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Amphastar Pharmaceuticals’ earnings. The lowest sales estimate is $71.20 million and the highest is $78.40 million. Amphastar Pharmaceuticals reported sales of $71.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The firm is expected to report its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Amphastar Pharmaceuticals will report full year sales of $323.90 million for the current year, with estimates ranging from $312.50 million to $333.20 million. For the next fiscal year, analysts forecast that the firm will report sales of $395.72 million, with estimates ranging from $329.00 million to $459.09 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Amphastar Pharmaceuticals.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its earnings results on Thursday, May 9th. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.07. Amphastar Pharmaceuticals had a return on equity of 5.14% and a net margin of 0.74%. The business had revenue of $79.79 million for the quarter, compared to analysts’ expectations of $76.21 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was up 36.7% compared to the same quarter last year.

A number of research firms recently issued reports on AMPH. Needham & Company LLC lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating and set a $22.20 price target on the stock. in a report on Wednesday, March 13th. Zacks Investment Research lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. TheStreet lowered Amphastar Pharmaceuticals from a “b-” rating to a “c+” rating in a report on Monday, March 18th. BidaskClub raised Amphastar Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 3rd. Finally, Wells Fargo & Co set a $29.00 price target on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, June 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $25.05.

In other Amphastar Pharmaceuticals news, EVP Rong Zhou sold 9,600 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $22.76, for a total value of $218,496.00. Following the sale, the executive vice president now owns 66,707 shares of the company’s stock, valued at approximately $1,518,251.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason B. Shandell sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $21.97, for a total value of $219,700.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,078 shares of company stock worth $634,106. Corporate insiders own 30.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Martingale Asset Management L P raised its position in shares of Amphastar Pharmaceuticals by 8.2% during the 1st quarter. Martingale Asset Management L P now owns 220,438 shares of the company’s stock worth $4,505,000 after purchasing an additional 16,692 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Amphastar Pharmaceuticals by 52,407.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,351 shares of the company’s stock worth $150,000 after purchasing an additional 7,337 shares during the last quarter. Rhumbline Advisers raised its position in shares of Amphastar Pharmaceuticals by 18.3% during the 4th quarter. Rhumbline Advisers now owns 103,943 shares of the company’s stock worth $2,068,000 after purchasing an additional 16,080 shares during the last quarter. Rothschild & Co. Asset Management US Inc. raised its position in shares of Amphastar Pharmaceuticals by 4.3% during the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 335,930 shares of the company’s stock worth $6,685,000 after purchasing an additional 13,757 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Amphastar Pharmaceuticals by 6.7% during the 4th quarter. Bank of New York Mellon Corp now owns 447,128 shares of the company’s stock worth $8,898,000 after purchasing an additional 28,225 shares during the last quarter. 47.64% of the stock is currently owned by institutional investors.

Shares of AMPH traded up $0.76 during midday trading on Wednesday, reaching $20.58. 4,697 shares of the stock were exchanged, compared to its average volume of 202,200. The firm has a 50-day simple moving average of $21.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.06 and a quick ratio of 1.35. Amphastar Pharmaceuticals has a twelve month low of $15.04 and a twelve month high of $25.43. The stock has a market cap of $932.84 million, a P/E ratio of 97.95 and a beta of 1.39.

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 France. The company operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients products.

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