Amphastar Pharmaceuticals (AMPH) PT Raised to $23.00 at Needham & Company LLC

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its target price lifted by equities research analysts at Needham & Company LLC from $20.00 to $23.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 19.92% from the company’s previous close.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Jefferies Group restated a “buy” rating and issued a $19.00 price objective (down from $20.00) on shares of Amphastar Pharmaceuticals in a research report on Friday, August 11th. Piper Jaffray Companies set a $19.00 price objective on shares of Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, August 9th. BidaskClub lowered shares of Amphastar Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research lowered shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Amphastar Pharmaceuticals has a consensus rating of “Hold” and an average price target of $20.86.

Shares of Amphastar Pharmaceuticals (AMPH) traded down $0.41 during trading hours on Friday, reaching $19.18. 257,163 shares of the company’s stock were exchanged, compared to its average volume of 278,962. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.08 and a quick ratio of 1.86. Amphastar Pharmaceuticals has a 12-month low of $12.05 and a 12-month high of $21.75. The company has a market capitalization of $881.82, a price-to-earnings ratio of 127.87 and a beta of 1.69.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Amphastar Pharmaceuticals had a net margin of 0.12% and a return on equity of 2.30%. The company had revenue of $57.90 million during the quarter, compared to analyst estimates of $57.23 million. During the same period last year, the business earned $0.14 earnings per share. Amphastar Pharmaceuticals’s revenue was down 9.8% compared to the same quarter last year. sell-side analysts expect that Amphastar Pharmaceuticals will post -0.03 EPS for the current year.

Amphastar Pharmaceuticals announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other Amphastar Pharmaceuticals news, EVP Diane G. Gerst sold 8,444 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $18.87, for a total transaction of $159,338.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. Zasloff sold 63,624 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $18.18, for a total transaction of $1,156,684.32. Following the transaction, the director now directly owns 101,879 shares in the company, valued at $1,852,160.22. The disclosure for this sale can be found here. Insiders sold 180,440 shares of company stock worth $3,328,599 over the last ninety days. 11.10% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of AMPH. Vanguard Group Inc. raised its stake in shares of Amphastar Pharmaceuticals by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,179,764 shares of the company’s stock worth $31,607,000 after acquiring an additional 8,744 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Amphastar Pharmaceuticals by 7.0% during the first quarter. Geode Capital Management LLC now owns 360,078 shares of the company’s stock worth $5,221,000 after acquiring an additional 23,709 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Amphastar Pharmaceuticals by 32.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,061,188 shares of the company’s stock worth $15,388,000 after acquiring an additional 260,288 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Amphastar Pharmaceuticals by 22.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 203,434 shares of the company’s stock worth $2,950,000 after acquiring an additional 37,625 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Amphastar Pharmaceuticals by 79.2% during the first quarter. Bank of America Corp DE now owns 69,075 shares of the company’s stock worth $1,002,000 after acquiring an additional 30,519 shares in the last quarter. 44.09% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Amphastar Pharmaceuticals (NASDAQ:AMPH)

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