Amphastar Pharmaceuticals (AMPH) Hits New 1-Year High Following Earnings Beat
Shares of Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $20.99 and last traded at $20.83, with a volume of 32701 shares. The stock had previously closed at $19.25.
The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Amphastar Pharmaceuticals had a positive return on equity of 2.15% and a negative net margin of 3.39%. The firm had revenue of $75.54 million for the quarter, compared to analyst estimates of $76.84 million. During the same period in the previous year, the firm earned $0.07 earnings per share. The company’s revenue was up 30.5% compared to the same quarter last year.
Several equities analysts have issued reports on the company. BidaskClub lowered Amphastar Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 13th. Needham & Company LLC dropped their price target on Amphastar Pharmaceuticals from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. Wells Fargo & Co reissued a “buy” rating on shares of Amphastar Pharmaceuticals in a research note on Friday. ValuEngine raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research raised Amphastar Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $23.00.
Institutional investors and hedge funds have recently modified their holdings of the business. Piedmont Investment Advisors LLC acquired a new position in shares of Amphastar Pharmaceuticals during the second quarter worth approximately $128,000. Meeder Asset Management Inc. raised its position in shares of Amphastar Pharmaceuticals by 259.8% during the second quarter. Meeder Asset Management Inc. now owns 10,486 shares of the company’s stock worth $160,000 after purchasing an additional 7,572 shares during the period. SG Americas Securities LLC acquired a new position in shares of Amphastar Pharmaceuticals during the second quarter worth approximately $161,000. Nisa Investment Advisors LLC acquired a new position in shares of Amphastar Pharmaceuticals during the third quarter worth approximately $221,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Amphastar Pharmaceuticals during the second quarter worth approximately $295,000. 42.86% of the stock is currently owned by hedge funds and other institutional investors.
The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $890.44 million, a price-to-earnings ratio of 56.82, a P/E/G ratio of 8.77 and a beta of 1.38.
Amphastar Pharmaceuticals Company Profile (NASDAQ:AMPH)
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 internationally. It operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients.
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