Amphastar Pharmaceuticals (NASDAQ:AMPH) Upgraded at Zacks Research

Zacks Research upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

AMPH has been the subject of a number of other research reports. Barclays cut their target price on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Bank of America reiterated an “underperform” rating and issued a $20.00 price target (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, June 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, July 8th. Piper Sandler restated a “neutral” rating and set a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amphastar Pharmaceuticals currently has a consensus rating of “Reduce” and an average target price of $22.00.

Amphastar Pharmaceuticals Stock Down 2.2%

Amphastar Pharmaceuticals stock opened at $18.87 on Tuesday. Amphastar Pharmaceuticals has a fifty-two week low of $16.65 and a fifty-two week high of $31.26. The firm has a market capitalization of $831.98 million, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 3.80 and a beta of 0.89. The stock’s fifty day moving average is $19.29 and its two-hundred day moving average is $21.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.28). The firm had revenue of $171.17 million for the quarter, compared to analyst estimates of $173.46 million. Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%. Analysts predict that Amphastar Pharmaceuticals will post 2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several hedge funds have recently modified their holdings of AMPH. Quarry LP acquired a new position in shares of Amphastar Pharmaceuticals in the third quarter valued at approximately $32,000. Farther Finance Advisors LLC lifted its stake in shares of Amphastar Pharmaceuticals by 46.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock valued at $37,000 after buying an additional 437 shares during the period. GAMMA Investing LLC boosted its position in Amphastar Pharmaceuticals by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock worth $45,000 after acquiring an additional 462 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Amphastar Pharmaceuticals by 24.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock worth $60,000 after acquiring an additional 435 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Amphastar Pharmaceuticals by 410.1% in the 4th quarter. TD Private Client Wealth LLC now owns 2,418 shares of the company’s stock worth $65,000 after acquiring an additional 1,944 shares during the period. 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.