Amphastar Pharmaceuticals (NASDAQ:AMPH) Downgraded by StockNews.com

by · The Markets Daily

StockNews.com cut shares of Amphastar Pharmaceuticals (NASDAQ:AMPH – Free Report) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Several other equities research analysts have also commented on AMPH. Needham & Company LLC restated a hold rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 8th. Piper Sandler lowered their target price on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $63.00.

Read Our Latest Research Report on AMPH

Amphastar Pharmaceuticals Trading Up 2.8 %

Shares of NASDAQ AMPH opened at $47.57 on Thursday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83. The stock’s 50 day simple moving average is $46.38 and its 200 day simple moving average is $42.95. The company has a current ratio of 3.52, a quick ratio of 2.63 and a debt-to-equity ratio of 0.82. Amphastar Pharmaceuticals has a 12-month low of $36.56 and a 12-month high of $65.92.

Amphastar Pharmaceuticals (NASDAQ:AMPH – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.10. The company had revenue of $182.39 million during the quarter, compared to the consensus estimate of $171.29 million. Amphastar Pharmaceuticals had a net margin of 23.36% and a return on equity of 29.79%. Equities research analysts expect that Amphastar Pharmaceuticals will post 3.71 EPS for the current year.

Insider Activity

In related news, EVP Rong Zhou sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $48.35, for a total transaction of $193,400.00. Following the sale, the executive vice president now owns 118,388 shares of the company’s stock, valued at $5,724,059.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Floyd F. Petersen sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $46.47, for a total value of $139,410.00. Following the sale, the director now directly owns 75,409 shares in the company, valued at $3,504,256.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rong Zhou sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $48.35, for a total transaction of $193,400.00. Following the sale, the executive vice president now owns 118,388 shares of the company’s stock, valued at $5,724,059.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,383 shares of company stock worth $1,524,123 over the last three months. Corporate insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Boone Capital Management LLC purchased a new stake in shares of Amphastar Pharmaceuticals during the fourth quarter valued at $24,740,000. Cim LLC purchased a new position in shares of Amphastar Pharmaceuticals in the fourth quarter worth approximately $572,000. Vanguard Group Inc. raised its holdings in shares of Amphastar Pharmaceuticals by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 2,815,596 shares of the company’s stock valued at $174,145,000 after acquiring an additional 48,203 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Amphastar Pharmaceuticals in the 4th quarter valued at approximately $410,000. Finally, Bridge City Capital LLC boosted its stake in Amphastar Pharmaceuticals by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 34,773 shares of the company’s stock worth $1,527,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

(Get Free Report)

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.

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