Amphastar Pharmaceuticals (NASDAQ:AMPH) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a buy rating to a hold rating in a research report released on Thursday.

Several other brokerages have also issued reports on AMPH. Piper Sandler cut their target price on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an overweight rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reiterated a hold rating on shares of Amphastar Pharmaceuticals in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Amphastar Pharmaceuticals currently has a consensus rating of Hold and an average target price of $63.00.

Amphastar Pharmaceuticals Price Performance

Shares of NASDAQ AMPH opened at $48.09 on Thursday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 16.64, a P/E/G ratio of 0.85 and a beta of 0.82. The company has a quick ratio of 2.63, a current ratio of 3.52 and a debt-to-equity ratio of 0.82. The stock’s 50-day simple moving average is $43.44 and its two-hundred day simple moving average is $42.60. Amphastar Pharmaceuticals has a twelve month low of $36.56 and a twelve month high of $65.92.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Wednesday, August 7th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.10. Amphastar Pharmaceuticals had a net margin of 23.36% and a return on equity of 29.79%. The business had revenue of $182.39 million during the quarter, compared to analyst estimates of $171.29 million. As a group, equities analysts anticipate that Amphastar Pharmaceuticals will post 3.71 EPS for the current fiscal year.

Insider Activity at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, EVP Rong Zhou sold 4,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $48.35, for a total transaction of $193,400.00. Following the completion of the sale, the executive vice president now directly owns 118,388 shares in the company, valued at $5,724,059.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO William J. Peters sold 3,596 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $40.93, for a total transaction of $147,184.28. Following the completion of the sale, the chief financial officer now directly owns 94,103 shares in the company, valued at approximately $3,851,635.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rong Zhou sold 4,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $48.35, for a total transaction of $193,400.00. Following the sale, the executive vice president now directly owns 118,388 shares of the company’s stock, valued at approximately $5,724,059.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,979 shares of company stock valued at $1,671,307. Insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of AMPH. Principal Securities Inc. bought a new position in Amphastar Pharmaceuticals during the 4th quarter valued at approximately $34,000. YHB Investment Advisors Inc. bought a new position in shares of Amphastar Pharmaceuticals during the first quarter valued at approximately $27,000. Quadrant Capital Group LLC lifted its stake in Amphastar Pharmaceuticals by 27.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,026 shares of the company’s stock worth $63,000 after acquiring an additional 223 shares during the period. Innealta Capital LLC bought a new stake in Amphastar Pharmaceuticals in the second quarter valued at $55,000. Finally, Blue Trust Inc. increased its position in Amphastar Pharmaceuticals by 23.9% during the 2nd quarter. Blue Trust Inc. now owns 1,604 shares of the company’s stock valued at $70,000 after purchasing an additional 309 shares during the period. 65.09% of the stock is owned by institutional investors.

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.