Piper Sandler Reaffirms Overweight Rating for Amphastar Pharmaceuticals (NASDAQ:AMPH)

Piper Sandler restated their overweight rating on shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $71.00 price objective on the stock.

AMPH has been the subject of a number of other reports. StockNews.com upgraded Amphastar Pharmaceuticals from a hold rating to a buy rating in a report on Monday, May 13th. JPMorgan Chase & Co. assumed coverage on Amphastar Pharmaceuticals in a report on Tuesday, March 5th. They set an overweight rating and a $60.00 target price for the company. Finally, Needham & Company LLC restated a hold rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Amphastar Pharmaceuticals presently has a consensus rating of Moderate Buy and an average price target of $66.00.

Amphastar Pharmaceuticals Price Performance

AMPH opened at $40.00 on Thursday. The stock has a 50-day moving average price of $41.61 and a 200-day moving average price of $47.85. Amphastar Pharmaceuticals has a 12-month low of $38.43 and a 12-month high of $67.66. The company has a current ratio of 2.18, a quick ratio of 1.72 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $1.96 billion, a P/E ratio of 13.84, a PEG ratio of 0.83 and a beta of 0.82.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. Amphastar Pharmaceuticals had a return on equity of 29.17% and a net margin of 22.88%. The firm had revenue of $171.84 million during the quarter, compared to analysts’ expectations of $171.13 million. Equities analysts predict that Amphastar Pharmaceuticals will post 3.6 earnings per share for the current fiscal year.

Insider Activity at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, Director Floyd F. Petersen sold 3,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $41.40, for a total value of $124,200.00. Following the completion of the sale, the director now owns 78,409 shares in the company, valued at approximately $3,246,132.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Amphastar Pharmaceuticals news, Director Floyd F. Petersen sold 3,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $41.40, for a total value of $124,200.00. Following the completion of the sale, the director now owns 78,409 shares in the company, valued at approximately $3,246,132.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO William J. Peters sold 3,596 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $40.93, for a total value of $147,184.28. Following the completion of the sale, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $3,851,635.79. The disclosure for this sale can be found here. Insiders sold 8,096 shares of company stock worth $335,259 in the last ninety days. 27.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AMPH. TD Asset Management Inc raised its position in shares of Amphastar Pharmaceuticals by 449.0% in the 4th quarter. TD Asset Management Inc now owns 793,559 shares of the company’s stock worth $49,082,000 after acquiring an additional 649,001 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Amphastar Pharmaceuticals by 348.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 592,530 shares of the company’s stock worth $36,648,000 after acquiring an additional 460,473 shares in the last quarter. Boone Capital Management LLC bought a new position in shares of Amphastar Pharmaceuticals in the 4th quarter worth approximately $24,740,000. Victory Capital Management Inc. raised its position in shares of Amphastar Pharmaceuticals by 870.9% in the 4th quarter. Victory Capital Management Inc. now owns 237,474 shares of the company’s stock worth $14,688,000 after acquiring an additional 213,014 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Amphastar Pharmaceuticals by 44.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 554,850 shares of the company’s stock worth $25,518,000 after acquiring an additional 171,642 shares in the last quarter. Institutional investors own 65.09% of the company’s stock.

About Amphastar Pharmaceuticals

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.