Amphastar Pharmaceuticals, Inc. (AMPH) PT Set at $19.00 by Jefferies Group LLC
Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) received a $19.00 price objective from investment analysts at Jefferies Group LLC in a note issued to investors on Sunday. The brokerage currently has a “buy” rating on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 4.68% from the stock’s previous close.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday. Piper Jaffray Companies set a $19.00 target price on Amphastar Pharmaceuticals and gave the stock a “buy” rating in a research report on Sunday, October 22nd. Needham & Company LLC lifted their target price on Amphastar Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, September 27th. ValuEngine downgraded Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $20.29.
Shares of Amphastar Pharmaceuticals (AMPH) opened at 18.15 on Friday. The company’s 50-day moving average is $17.65 and its 200-day moving average is $16.63. The company has a market capitalization of $838.44 million, a price-to-earnings ratio of 235.71 and a beta of 1.69. Amphastar Pharmaceuticals has a 12-month low of $12.05 and a 12-month high of $21.75.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results 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 the consensus estimate of $63.40 million. During the same period last year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts predict that Amphastar Pharmaceuticals will post $0.27 EPS for the current year.
Amphastar Pharmaceuticals announced that its board has authorized a stock repurchase plan on Wednesday, August 9th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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In related news, CFO William J. Peters sold 3,026 shares of Amphastar Pharmaceuticals stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $18.56, for a total value of $56,162.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael A. Zasloff sold 63,624 shares of Amphastar Pharmaceuticals stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $18.18, for a total value of $1,156,684.32. Following the completion of the sale, the director now owns 101,879 shares of the company’s stock, valued at $1,852,160.22. The disclosure for this sale can be found here. Insiders sold 154,038 shares of company stock valued at $2,780,352 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in AMPH. Victory Capital Management Inc. raised its holdings 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 acquiring an additional 842 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Amphastar Pharmaceuticals in the second quarter valued at about $111,000. Municipal Employees Retirement System of Michigan raised its holdings 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 acquiring an additional 290 shares in the last quarter. State of Alaska Department of Revenue raised its holdings 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 acquiring an additional 3,072 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Amphastar Pharmaceuticals by 58.2% in the second quarter. BNP Paribas Arbitrage SA now owns 10,545 shares of the company’s stock valued at $188,000 after acquiring an additional 3,880 shares in the last quarter. Hedge funds and other institutional investors own 43.99% 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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