Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)‘s stock had its “buy” rating reaffirmed by analysts at Wells Fargo & Company in a research note issued to investors on Saturday, July 22nd.
Other equities analysts have also recently issued reports about the stock. TheStreet raised shares of Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, June 26th. Jefferies Group LLC reduced their price objective on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, May 10th. Finally, Zacks Investment Research cut shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Amphastar Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $19.86.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 14.73 on Friday. Amphastar Pharmaceuticals has a 12 month low of $12.05 and a 12 month high of $21.75. The stock’s 50 day moving average price is $16.92 and its 200-day moving average price is $15.89. The firm has a market cap of $680.45 million, a P/E ratio of 191.30 and a beta of 1.65.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The firm had revenue of $65.20 million for the quarter, compared to analysts’ expectations of $63.40 million. During the same period last year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current fiscal year.
Amphastar Pharmaceuticals announced that its Board of Directors has approved a share repurchase program on Wednesday, August 9th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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In related news, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $14.80, for a total transaction of $74,000.00. Following the sale, the director now directly owns 33,844 shares in the company, valued at $500,891.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard K. Prins sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $14.81, for a total transaction of $148,100.00. Following the sale, the director now owns 33,844 shares in the company, valued at $501,229.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,482 shares of company stock worth $842,225. 11.10% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of AMPH. Sei Investments Co. raised its stake in shares of Amphastar Pharmaceuticals by 20,071.0% in the first quarter. Sei Investments Co. now owns 103,074 shares of the company’s stock valued at $1,495,000 after buying an additional 102,563 shares during the last quarter. Rothschild Asset Management Inc. acquired a new stake in shares of Amphastar Pharmaceuticals during the first quarter valued at about $9,056,000. Swiss National Bank raised its stake in shares of Amphastar Pharmaceuticals by 5.3% in the first quarter. Swiss National Bank now owns 59,400 shares of the company’s stock valued at $861,000 after buying an additional 3,000 shares during the last quarter. Comerica Bank raised its stake in shares of Amphastar Pharmaceuticals by 4.1% in the first quarter. Comerica Bank now owns 39,612 shares of the company’s stock valued at $600,000 after buying an additional 1,570 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in shares of Amphastar Pharmaceuticals during the first quarter valued at about $215,000. Institutional investors and hedge funds own 43.83% 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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