Amphastar Pharmaceuticals (NASDAQ:AMPH) Rating Lowered to Sell at BidaskClub

Amphastar Pharmaceuticals (NASDAQ:AMPH) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, BidAskClub reports.

Several other equities analysts have also commented on AMPH. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Wells Fargo & Co set a $29.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, TheStreet upgraded Patrick Industries from a “c+” rating to a “b-” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $24.64.

Shares of Amphastar Pharmaceuticals stock opened at $20.03 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.06 and a quick ratio of 1.35. The company has a market cap of $945.54 million, a price-to-earnings ratio of 95.38 and a beta of 1.39. The firm’s 50-day moving average price is $20.26. Amphastar Pharmaceuticals has a 12 month low of $16.18 and a 12 month high of $25.43.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The firm had revenue of $79.79 million for the quarter, compared to analyst estimates of $76.21 million. Amphastar Pharmaceuticals had a return on equity of 5.14% and a net margin of 0.74%. The company’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, analysts expect that Amphastar Pharmaceuticals will post 0.21 EPS for the current year.

In related news, EVP Rong Zhou sold 9,600 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $22.76, for a total transaction of $218,496.00. Following the completion of the sale, the executive vice president now directly owns 66,707 shares in the company, valued at approximately $1,518,251.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason B. Shandell sold 10,000 shares of the stock in a transaction dated 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. Insiders have sold a total of 26,215 shares of company stock valued at $572,547 over the last 90 days. 30.80% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. boosted its holdings in shares of Amphastar Pharmaceuticals by 8.9% in the fourth quarter. Prudential Financial Inc. now owns 61,995 shares of the company’s stock worth $1,234,000 after buying an additional 5,085 shares during the period. California Public Employees Retirement System acquired a new position in shares of Amphastar Pharmaceuticals in the fourth quarter worth about $509,000. New York State Common Retirement Fund boosted its holdings in shares of Amphastar Pharmaceuticals by 27.1% in the fourth quarter. New York State Common Retirement Fund now owns 48,186 shares of the company’s stock worth $959,000 after buying an additional 10,286 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Amphastar Pharmaceuticals by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 447,128 shares of the company’s stock worth $8,898,000 after buying an additional 28,225 shares during the period. Finally, Texas Permanent School Fund boosted its holdings in shares of Amphastar Pharmaceuticals by 3.6% in the fourth quarter. Texas Permanent School Fund now owns 22,624 shares of the company’s stock worth $450,000 after buying an additional 796 shares during the period. Institutional investors own 47.61% of the company’s stock.

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.

Featured Article: Asset Allocation, Balancing Your Investments

Receive News & Ratings for Amphastar Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphastar Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.