Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 1,329,600 shares, a growth of 7.3% from the May 30th total of 1,239,000 shares. Based on an average daily volume of 173,800 shares, the days-to-cover ratio is presently 7.7 days. Currently, 3.9% of the shares of the stock are short sold.
Shares of NASDAQ AMPH opened at $20.09 on Wednesday. Amphastar Pharmaceuticals has a twelve month low of $16.18 and a twelve month high of $25.43. The company has a quick ratio of 1.35, a current ratio of 2.06 and a debt-to-equity ratio of 0.11. The firm has a market cap of $950.72 million, a P/E ratio of 95.67 and a beta of 1.39. The firm has a 50-day simple moving average of $20.28.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.07. The company had revenue of $79.79 million during the quarter, compared to the consensus estimate of $76.21 million. Amphastar Pharmaceuticals had a net margin of 0.74% and a return on equity of 5.14%. Amphastar Pharmaceuticals’s revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. On average, sell-side analysts anticipate that Amphastar Pharmaceuticals will post 0.21 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. grew its stake in Amphastar Pharmaceuticals by 8.9% during the 4th quarter. Prudential Financial Inc. now owns 61,995 shares of the company’s stock valued at $1,234,000 after acquiring an additional 5,085 shares in the last quarter. California Public Employees Retirement System acquired a new position in Amphastar Pharmaceuticals in the 4th quarter valued at about $509,000. New York State Common Retirement Fund boosted its holdings in Amphastar Pharmaceuticals by 27.1% in the 4th quarter. New York State Common Retirement Fund now owns 48,186 shares of the company’s stock valued at $959,000 after purchasing an additional 10,286 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Amphastar Pharmaceuticals by 6.7% in the 4th quarter. Bank of New York Mellon Corp now owns 447,128 shares of the company’s stock valued at $8,898,000 after purchasing an additional 28,225 shares during the last quarter. Finally, Texas Permanent School Fund boosted its holdings in Amphastar Pharmaceuticals by 3.6% in the 4th quarter. Texas Permanent School Fund now owns 22,624 shares of the company’s stock valued at $450,000 after purchasing an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 47.61% of the company’s stock.
Several research firms recently weighed in on AMPH. Wells Fargo & Co set a $29.00 price objective on shares of Amphastar Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, June 6th. BidaskClub downgraded shares of Zebra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $24.64.
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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