Amphastar Pharmaceuticals (NASDAQ:AMPH) Cut to “Market Perform” at Northland Securities

Northland Securities downgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from an outperform rating to a market perform rating in a research report released on Thursday morning, AnalystRatings.com reports. The firm currently has $23.00 target price on the stock.

Several other brokerages have also commented on AMPH. Needham & Company LLC reiterated a hold rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, June 10th. BMO Capital Markets raised their price target on Amphastar Pharmaceuticals from $20.00 to $21.00 and gave the stock a market perform rating in a research report on Monday, May 11th. BidaskClub lowered Amphastar Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Tuesday, July 7th. TheStreet upgraded Amphastar Pharmaceuticals from a c+ rating to a b- rating in a research report on Thursday, July 2nd. Finally, ValuEngine lowered Amphastar Pharmaceuticals from a buy rating to a hold rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $20.00.

Shares of Amphastar Pharmaceuticals stock opened at $20.34 on Thursday. The company has a current ratio of 2.96, a quick ratio of 1.67 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $939.67 million, a PE ratio of 48.43 and a beta of 1.19. The business’s 50-day moving average price is $20.22 and its 200-day moving average price is $18.14. Amphastar Pharmaceuticals has a 12 month low of $12.32 and a 12 month high of $22.85.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.09 by $0.08. The firm had revenue of $84.69 million for the quarter, compared to analyst estimates of $81.80 million. Amphastar Pharmaceuticals had a return on equity of 4.99% and a net margin of 15.90%. As a group, analysts predict that Amphastar Pharmaceuticals will post 0.44 earnings per share for the current fiscal year.

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 13,656 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.00, for a total value of $300,432.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Koo sold 47,782 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $18.18, for a total value of $868,676.76. Following the completion of the sale, the director now owns 295,201 shares of the company’s stock, valued at approximately $5,366,754.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,120 shares of company stock valued at $2,701,393. Company insiders own 29.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Amphastar Pharmaceuticals by 7.8% in the 1st quarter. State Street Corp now owns 1,197,293 shares of the company’s stock worth $17,768,000 after buying an additional 86,792 shares during the period. Royal Bank of Canada lifted its stake in shares of Amphastar Pharmaceuticals by 1,008.0% in the 1st quarter. Royal Bank of Canada now owns 14,050 shares of the company’s stock valued at $209,000 after purchasing an additional 12,782 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Amphastar Pharmaceuticals by 29.7% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 98,300 shares of the company’s stock valued at $1,459,000 after purchasing an additional 22,500 shares during the period. Morgan Stanley lifted its stake in shares of Amphastar Pharmaceuticals by 38.0% in the 1st quarter. Morgan Stanley now owns 234,619 shares of the company’s stock valued at $3,482,000 after purchasing an additional 64,551 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Amphastar Pharmaceuticals by 130.4% in the 1st quarter. AQR Capital Management LLC now owns 88,846 shares of the company’s stock valued at $1,318,000 after purchasing an additional 50,278 shares during the period. Institutional investors and hedge funds own 51.79% 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.

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