Brokers Issue Forecasts for Amphastar Pharmaceuticals, Inc.’s FY2024 Earnings (NASDAQ:AMPH)

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) – Research analysts at Capital One Financial boosted their FY2024 earnings per share estimates for Amphastar Pharmaceuticals in a report issued on Wednesday, April 17th. Capital One Financial analyst T. Chiang now anticipates that the company will post earnings per share of $3.48 for the year, up from their prior estimate of $3.43. The consensus estimate for Amphastar Pharmaceuticals’ current full-year earnings is $3.42 per share.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.03). Amphastar Pharmaceuticals had a return on equity of 26.95% and a net margin of 21.34%. The business had revenue of $178.11 million for the quarter, compared to the consensus estimate of $174.90 million.

A number of other brokerages have also recently issued reports on AMPH. JPMorgan Chase & Co. assumed coverage on Amphastar Pharmaceuticals in a report on Tuesday, March 5th. They set an “overweight” rating and a $60.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, April 10th. Finally, StockNews.com downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $66.00.

Amphastar Pharmaceuticals Trading Up 3.5 %

Shares of NASDAQ:AMPH opened at $40.01 on Friday. Amphastar Pharmaceuticals has a 12-month low of $35.62 and a 12-month high of $67.66. The stock has a market cap of $1.96 billion, a PE ratio of 15.51, a P/E/G ratio of 0.96 and a beta of 0.84. The business has a 50 day moving average of $46.27 and a 200-day moving average of $51.14. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.92.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMPH. Envestnet Asset Management Inc. acquired a new position in shares of Amphastar Pharmaceuticals during the first quarter worth $238,000. Raymond James & Associates bought a new stake in shares of Amphastar Pharmaceuticals in the first quarter worth $599,000. Bank of New York Mellon Corp grew its stake in shares of Amphastar Pharmaceuticals by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 401,405 shares of the company’s stock worth $14,409,000 after purchasing an additional 30,462 shares during the last quarter. Citigroup Inc. grew its stake in shares of Amphastar Pharmaceuticals by 27.0% in the first quarter. Citigroup Inc. now owns 38,664 shares of the company’s stock worth $1,388,000 after purchasing an additional 8,224 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Amphastar Pharmaceuticals by 2.9% in the first quarter. Bank of Montreal Can now owns 13,029 shares of the company’s stock worth $477,000 after purchasing an additional 371 shares during the last quarter. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Amphastar Pharmaceuticals news, Director Michael A. Zasloff sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $47.18, for a total transaction of $589,750.00. Following the completion of the transaction, the director now directly owns 21,326 shares in the company, valued at $1,006,160.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Floyd F. Petersen sold 500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $53.10, for a total transaction of $26,550.00. Following the completion of the transaction, the director now directly owns 80,333 shares in the company, valued at $4,265,682.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Zasloff sold 12,500 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $47.18, for a total transaction of $589,750.00. Following the transaction, the director now owns 21,326 shares of the company’s stock, valued at $1,006,160.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,000 shares of company stock worth $660,860. Corporate insiders own 28.40% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

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. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.