Amphastar Pharmaceuticals (NASDAQ:AMPH) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Amphastar Pharmaceuticals (NASDAQ:AMPHGet Rating) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

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 also recently weighed in on the company. StockNews.com assumed coverage on Amphastar Pharmaceuticals in a research report on Thursday, March 31st. They issued a buy rating for the company. Wells Fargo & Company boosted their price target on Amphastar Pharmaceuticals from $23.00 to $32.00 and gave the stock an equal weight rating in a research note on Tuesday, March 15th. Piper Sandler boosted their price target on Amphastar Pharmaceuticals from $28.00 to $35.00 and gave the stock an overweight rating in a research note on Friday, March 11th. Finally, Northland Securities boosted their price target on Amphastar Pharmaceuticals from $33.00 to $43.00 in a research note on Monday, April 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Amphastar Pharmaceuticals currently has an average rating of Buy and an average target price of $37.25.

Shares of NASDAQ AMPH opened at $35.93 on Tuesday. Amphastar Pharmaceuticals has a 1-year low of $17.56 and a 1-year high of $44.46. The business has a 50-day moving average of $36.38 and a 200-day moving average of $28.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.19 and a quick ratio of 2.35. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 22.32 and a beta of 0.66.

Amphastar Pharmaceuticals (NASDAQ:AMPHGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.11. Amphastar Pharmaceuticals had a return on equity of 17.35% and a net margin of 17.87%. During the same period in the prior year, the business earned $0.27 earnings per share. Research analysts expect that Amphastar Pharmaceuticals will post 1.65 EPS for the current fiscal year.

In other news, Director Michael A. Zasloff sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $33.71, for a total transaction of $337,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William J. Peters sold 7,900 shares of the stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $34.46, for a total value of $272,234.00. The disclosure for this sale can be found here. Insiders have sold 29,486 shares of company stock worth $1,018,155 in the last 90 days. 27.80% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Amphastar Pharmaceuticals by 253.4% in the 2nd quarter. Royal Bank of Canada now owns 3,534 shares of the company’s stock worth $71,000 after buying an additional 2,534 shares in the last quarter. Morgan Stanley grew its holdings in Amphastar Pharmaceuticals by 21.3% in the 2nd quarter. Morgan Stanley now owns 414,225 shares of the company’s stock worth $8,350,000 after buying an additional 72,625 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Amphastar Pharmaceuticals by 42,970.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 168,405 shares of the company’s stock worth $3,199,000 after buying an additional 168,014 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Amphastar Pharmaceuticals by 97.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 44,141 shares of the company’s stock worth $839,000 after buying an additional 21,807 shares in the last quarter. Finally, Barclays PLC grew its holdings in Amphastar Pharmaceuticals by 39.7% in the 3rd quarter. Barclays PLC now owns 63,817 shares of the company’s stock worth $1,212,000 after buying an additional 18,131 shares in the last quarter. Institutional investors and hedge funds own 59.79% of the company’s stock.

About Amphastar Pharmaceuticals (Get Rating)

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. The company operates through two segments, Finished Pharmaceutical Products and API.

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