Amphastar Pharmaceuticals’ (AMPH) “Hold” Rating Reaffirmed at BMO Capital Markets
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)‘s stock had its “hold” rating reiterated by research analysts at BMO Capital Markets in a research note issued to investors on Monday, July 31st. They presently have a $16.00 target price on the stock. BMO Capital Markets’ price objective suggests a potential upside of 7.45% from the company’s current price.
A number of other equities research analysts have also recently weighed in on the company. Piper Jaffray Companies set a $20.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research note on Saturday, July 29th. BidaskClub lowered Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Wells Fargo & Company reiterated a “buy” rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. TheStreet upgraded Amphastar Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, June 26th. Finally, Zacks Investment Research lowered Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Amphastar Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $19.86.
Amphastar Pharmaceuticals (NASDAQ AMPH) traded down 2.49% during midday trading on Monday, reaching $14.89. 246,952 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $17.25 and its 200-day moving average price is $15.91. The stock has a market cap of $687.84 million, a PE ratio of 193.38 and a beta of 1.65. Amphastar Pharmaceuticals has a one year low of $12.05 and a one year high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its quarterly earnings data 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 business had revenue of $65.20 million during the quarter, compared to analysts’ expectations of $63.40 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Equities analysts predict that Amphastar Pharmaceuticals will post $0.40 earnings per share for the current year.
Amphastar Pharmaceuticals announced that its Board of Directors has initiated a share buyback program on Wednesday, August 9th that allows the company to buyback $20.00 million in shares. This buyback authorization allows the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Jason B. Shandell sold 11,482 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $16.92, for a total value of $194,275.44. Following the completion of the sale, the director now directly owns 241,342 shares of the company’s stock, valued at approximately $4,083,506.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard K. Prins sold 10,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $17.07, for a total value of $170,700.00. Following the completion of the sale, the director now directly owns 28,844 shares of the company’s stock, valued at $492,367.08. The disclosure for this sale can be found here. Insiders sold a total of 36,482 shares of company stock valued at $620,125 over the last three months. Company insiders own 11.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Amphastar Pharmaceuticals by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock valued at $100,000 after buying an additional 842 shares during the period. SG Americas Securities LLC bought a new position in shares of Amphastar Pharmaceuticals during the second quarter valued at about $111,000. State of Alaska Department of Revenue boosted its position in shares of Amphastar Pharmaceuticals by 77.2% in the second quarter. State of Alaska Department of Revenue now owns 7,052 shares of the company’s stock valued at $125,000 after buying an additional 3,072 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of Amphastar Pharmaceuticals by 3.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,200 shares of the company’s stock valued at $119,000 after buying an additional 290 shares during the period. Finally, Mason Street Advisors LLC boosted its position in shares of Amphastar Pharmaceuticals by 7.0% in the first quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock valued at $122,000 after buying an additional 549 shares during the period. Hedge funds and other institutional investors own 44.02% of the company’s stock.
Amphastar Pharmaceuticals Company Profile
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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