Amphastar Pharmaceuticals (AMPH) Lowered to Sell at Zacks Investment Research

Amphastar Pharmaceuticals (NASDAQ:AMPH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, December 27th.

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 analysts also recently weighed in on the company. Needham & Company LLC upped their price target on Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. BMO Capital Markets upped their price objective on Amphastar Pharmaceuticals from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. Raymond James Financial cut Amphastar Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $18.00 price objective on the stock. in a research report on Thursday, November 9th. Jefferies Group set a $19.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Piper Jaffray Companies set a $19.00 price objective on Amphastar Pharmaceuticals and gave the company a “buy” rating in a research report on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $19.50.

Amphastar Pharmaceuticals (AMPH) opened at $18.56 on Wednesday. The company has a current ratio of 3.08, a quick ratio of 1.86 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $853.31, a P/E ratio of 120.40, a price-to-earnings-growth ratio of 1.27 and a beta of 1.69. Amphastar Pharmaceuticals has a twelve month low of $12.05 and a twelve month high of $19.95.

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

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 6,226 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $19.67, for a total value of $122,465.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen B. Shohet sold 7,862 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $18.04, for a total value of $141,830.48. Following the completion of the sale, the director now owns 31,978 shares of the company’s stock, valued at approximately $576,883.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,172 shares of company stock worth $1,513,538. 11.10% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of AMPH. Victory Capital Management Inc. grew its position in shares of Amphastar Pharmaceuticals by 17.7% during the second quarter. Victory Capital Management Inc. now owns 5,611 shares of the company’s stock valued at $100,000 after purchasing an additional 842 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Amphastar Pharmaceuticals during the second quarter valued at about $111,000. Municipal Employees Retirement System of Michigan grew its position in shares of Amphastar Pharmaceuticals by 2.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 8,430 shares of the company’s stock valued at $151,000 after purchasing an additional 230 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Amphastar Pharmaceuticals by 58.2% during the second quarter. BNP Paribas Arbitrage SA now owns 10,545 shares of the company’s stock valued at $188,000 after purchasing an additional 3,880 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its position in shares of Amphastar Pharmaceuticals by 7.2% during the second quarter. Thrivent Financial For Lutherans now owns 21,610 shares of the company’s stock valued at $386,000 after purchasing an additional 1,460 shares in the last quarter. Hedge funds and other institutional investors own 44.14% of the company’s stock.

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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.

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