Zacks Investment Research downgraded shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
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. “
Other research analysts have also recently issued research reports about the company. TheStreet upgraded Amphastar Pharmaceuticals from a c rating to a b- rating in a report on Monday, June 26th. Needham & Company LLC lifted their target price on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the company a buy rating in a report on Wednesday, September 27th. Piper Jaffray Companies reiterated a buy rating and issued a $19.00 target price on shares of Amphastar Pharmaceuticals in a report on Sunday, September 17th. Jefferies Group LLC reiterated a buy rating and issued a $19.00 target price (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a report on Friday, August 11th. Finally, Wells Fargo & Company reiterated a buy rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $20.17.
Amphastar Pharmaceuticals (AMPH) traded down 0.27% during trading on Tuesday, reaching $18.66. The company had a trading volume of 54,096 shares. Amphastar Pharmaceuticals has a 12 month low of $12.05 and a 12 month high of $21.75. The firm’s 50 day moving average is $16.77 and its 200-day moving average is $16.26. The company has a market capitalization of $862.00 million, a P/E ratio of 242.34 and a beta of 1.69.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. Amphastar Pharmaceuticals had a return on equity of 2.42% and a net margin of 1.61%. The firm had revenue of $65.20 million for the quarter, compared to analysts’ expectations of $63.40 million. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts expect that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current year.
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Amphastar Pharmaceuticals declared that its Board of Directors has approved a share buyback program on Wednesday, August 9th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 5,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $14.80, for a total transaction of $74,000.00. Following the transaction, the director now owns 33,844 shares in the company, valued at $500,891.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Floyd F. Petersen sold 39,312 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $18.59, for a total value of $730,810.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,380 shares of company stock worth $2,268,933. 11.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. lifted its stake in shares of Amphastar Pharmaceuticals by 20,071.0% during the first quarter. Sei Investments Co. now owns 103,074 shares of the company’s stock worth $1,495,000 after purchasing an additional 102,563 shares in the last quarter. Swiss National Bank lifted its stake in shares of Amphastar Pharmaceuticals by 5.3% during the first quarter. Swiss National Bank now owns 59,400 shares of the company’s stock worth $861,000 after purchasing an additional 3,000 shares in the last quarter. Comerica Bank lifted its stake in shares of Amphastar Pharmaceuticals by 4.1% during the first quarter. Comerica Bank now owns 39,612 shares of the company’s stock worth $600,000 after purchasing an additional 1,570 shares in the last quarter. OppenheimerFunds Inc. acquired a new position in shares of Amphastar Pharmaceuticals during the first quarter worth about $215,000. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Amphastar Pharmaceuticals by 33.9% during the first quarter. Tudor Investment Corp ET AL now owns 35,387 shares of the company’s stock worth $513,000 after purchasing an additional 8,960 shares in the last quarter. Institutional investors own 44.26% of the company’s stock.
About Amphastar Pharmaceuticals
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.
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