Barclays Lowers Amphastar Pharmaceuticals (NASDAQ:AMPH) Price Target to $23.00

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price target lowered by investment analysts at Barclays from $30.00 to $23.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 10.21% from the company’s current price.

A number of other equities research analysts have also recently weighed in on AMPH. Wells Fargo & Company dropped their price objective on Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Needham & Company LLC dropped their price objective on Amphastar Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.33.

Amphastar Pharmaceuticals Price Performance

NASDAQ:AMPH opened at $20.87 on Wednesday. Amphastar Pharmaceuticals has a 52 week low of $17.03 and a 52 week high of $31.26. The company has a quick ratio of 2.90, a current ratio of 4.02 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $946.87 million, a P/E ratio of 10.28, a P/E/G ratio of 1.70 and a beta of 0.92. The stock’s fifty day moving average is $23.07 and its two-hundred day moving average is $25.05.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.24). Amphastar Pharmaceuticals had a net margin of 13.63% and a return on equity of 17.58%. The business had revenue of $183.11 million during the quarter, compared to analysts’ expectations of $190.48 million. Equities analysts expect that Amphastar Pharmaceuticals will post 3.49 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund grew its stake in Amphastar Pharmaceuticals by 86.4% during the 3rd quarter. New York State Common Retirement Fund now owns 90,169 shares of the company’s stock worth $2,403,000 after purchasing an additional 41,800 shares in the last quarter. SummerHaven Investment Management LLC acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $1,018,000. Rice Hall James & Associates LLC acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $3,447,000. SG Americas Securities LLC acquired a new position in Amphastar Pharmaceuticals during the 4th quarter worth $2,504,000. Finally, Denali Advisors LLC acquired a new position in Amphastar Pharmaceuticals during the 3rd quarter worth $3,598,000. 65.09% of the stock is owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.