Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. The firm currently has $23.00 target price on the stock.
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. “
AMPH has been the subject of a number of other research reports. Needham & Company LLC restated a buy rating and issued a $10.00 price target on shares of Adesto Technologies in a research report on Wednesday, March 13th. TheStreet upgraded Patrick Industries from a c+ rating to a b- rating in a research report on Monday, March 18th. Wells Fargo & Co set a $29.00 price target on Amphastar Pharmaceuticals and gave the company a buy rating in a research report on Thursday, June 6th. Piper Jaffray Companies dropped their price target on Sophiris Bio to $5.00 and set an overweight rating for the company in a research report on Wednesday, March 13th. Finally, BidaskClub cut Zynerba Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Wednesday, May 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Amphastar Pharmaceuticals presently has an average rating of Buy and an average price target of $24.64.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The firm had revenue of $79.79 million during the quarter, compared to analysts’ expectations of $76.21 million. Amphastar Pharmaceuticals had a return on equity of 5.14% and a net margin of 0.74%. Amphastar Pharmaceuticals’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. Sell-side analysts anticipate that Amphastar Pharmaceuticals will post 0.21 EPS for the current fiscal year.
In related news, General Counsel Jason B. Shandell sold 9,478 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $20.67, for a total transaction of $195,910.26. Following the sale, the general counsel now owns 159,947 shares of the company’s stock, valued at $3,306,104.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason B. Shandell sold 10,000 shares of the stock in a transaction 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 90 days, insiders sold 35,693 shares of company stock valued at $768,457. Company insiders own 30.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P boosted its stake in shares of Amphastar Pharmaceuticals by 8.2% during the first quarter. Martingale Asset Management L P now owns 220,438 shares of the company’s stock valued at $4,505,000 after acquiring an additional 16,692 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Amphastar Pharmaceuticals by 52,407.1% during the first quarter. BNP Paribas Arbitrage SA now owns 7,351 shares of the company’s stock valued at $150,000 after acquiring an additional 7,337 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Amphastar Pharmaceuticals by 6.7% during the fourth quarter. Bank of New York Mellon Corp now owns 447,128 shares of the company’s stock valued at $8,898,000 after acquiring an additional 28,225 shares during the last quarter. Sawtooth Solutions LLC acquired a new stake in shares of Amphastar Pharmaceuticals during the first quarter valued at $215,000. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of Amphastar Pharmaceuticals during the first quarter valued at $644,000. 47.64% of the stock is currently owned by institutional investors and hedge funds.
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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