Amphastar Pharmaceuticals, Inc. (AMPH) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) from a buy rating to a hold rating in a research report sent to investors on Friday.
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. “
Several other equities research analysts have also recently weighed in on AMPH. Wells Fargo & Company reiterated a buy rating on shares of Amphastar Pharmaceuticals in a report on Saturday, July 22nd. BidaskClub cut Amphastar Pharmaceuticals from a buy rating to a hold rating in a report on Friday, July 28th. Piper Jaffray Companies set a $20.00 price objective on Amphastar Pharmaceuticals and gave the stock a buy rating in a report on Saturday, July 29th. BMO Capital Markets reiterated a hold rating and issued a $16.00 price objective on shares of Amphastar Pharmaceuticals in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a buy rating and issued a $19.00 price objective (down previously from $20.00) on shares of Amphastar Pharmaceuticals in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $20.29.
Shares of Amphastar Pharmaceuticals (NASDAQ AMPH) opened at 18.15 on Friday. The company has a market capitalization of $838.44 million, a P/E ratio of 235.71 and a beta of 1.69. The firm has a 50-day moving average price of $17.65 and a 200-day moving average price of $16.63. Amphastar Pharmaceuticals has a one year low of $12.05 and a one year high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share for the quarter, topping the 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 quarter last year, the business posted $0.23 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Equities analysts forecast that Amphastar Pharmaceuticals will post $0.27 earnings per share for the current year.
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Amphastar Pharmaceuticals announced that its board has authorized a stock repurchase program on Wednesday, August 9th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Michael A. Zasloff sold 63,624 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $18.18, for a total value of $1,156,684.32. Following the completion of the transaction, the director now owns 101,879 shares in the company, valued at approximately $1,852,160.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO William J. Peters sold 3,026 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $18.56, for a total value of $56,162.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,038 shares of company stock valued at $2,780,352. Company insiders own 11.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in shares of Amphastar Pharmaceuticals by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 39,250 shares of the company’s stock valued at $701,000 after purchasing an additional 101 shares during the period. Arizona State Retirement System lifted its stake in shares of Amphastar Pharmaceuticals by 1.1% in the 1st quarter. Arizona State Retirement System now owns 18,700 shares of the company’s stock valued at $271,000 after purchasing an additional 200 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Amphastar Pharmaceuticals by 2.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,430 shares of the company’s stock valued at $151,000 after purchasing an additional 230 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Amphastar Pharmaceuticals by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,701 shares of the company’s stock valued at $512,000 after purchasing an additional 312 shares during the period. Finally, Mason Street Advisors LLC lifted its stake in shares of Amphastar Pharmaceuticals by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 8,394 shares of the company’s stock valued at $122,000 after purchasing an additional 549 shares during the period. Institutional investors own 43.99% 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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