Amphastar Pharmaceuticals (NASDAQ:AMPH) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a hold rating to a buy rating in a report released on Thursday, BidAskClub reports.

Other analysts have also issued reports about the company. Wells Fargo & Co set a $29.00 price target on Amphastar Pharmaceuticals and gave the company a buy rating in a research note on Thursday, June 6th. Zacks Investment Research raised Amphastar Pharmaceuticals from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Wednesday, July 10th. Finally, TheStreet raised Amphastar Pharmaceuticals from a c rating to a b- rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $24.64.

NASDAQ:AMPH opened at $22.24 on Thursday. The stock’s 50-day simple moving average is $20.40 and its 200 day simple moving average is $21.31. The firm has a market capitalization of $1.07 billion, a PE ratio of 52.47 and a beta of 1.35. The company has a quick ratio of 1.83, a current ratio of 2.81 and a debt-to-equity ratio of 0.13. Amphastar Pharmaceuticals has a twelve month low of $17.71 and a twelve month high of $25.43.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. Amphastar Pharmaceuticals had a return on equity of 5.52% and a net margin of 16.33%. The business had revenue of $79.00 million for the quarter, compared to analyst estimates of $78.90 million. During the same period last year, the firm posted $0.03 earnings per share. Amphastar Pharmaceuticals’s revenue was up 11.3% compared to the same quarter last year. On average, analysts anticipate that Amphastar Pharmaceuticals will post 0.15 EPS for the current fiscal year.

In other news, CFO William J. Peters sold 4,942 shares of Amphastar Pharmaceuticals stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $21.00, for a total transaction of $103,782.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jason B. Shandell sold 6,615 shares of Amphastar Pharmaceuticals stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $20.31, for a total value of $134,350.65. The disclosure for this sale can be found here. Insiders have sold 26,557 shares of company stock worth $549,583 over the last three months. Insiders own 30.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in AMPH. Quadrant Capital Group LLC bought a new position in shares of Amphastar Pharmaceuticals during the first quarter worth about $53,000. Acadian Asset Management LLC bought a new position in shares of Amphastar Pharmaceuticals during the second quarter worth about $88,000. Bank of Montreal Can raised its position in shares of Amphastar Pharmaceuticals by 130.7% during the second quarter. Bank of Montreal Can now owns 4,923 shares of the company’s stock worth $104,000 after acquiring an additional 2,789 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Amphastar Pharmaceuticals by 52,407.1% during the first quarter. BNP Paribas Arbitrage SA now owns 7,351 shares of the company’s stock worth $150,000 after acquiring an additional 7,337 shares during the last quarter. Finally, Magnus Financial Group LLC bought a new position in shares of Amphastar Pharmaceuticals during the second quarter worth about $204,000. 48.12% of the stock is currently owned by hedge funds and other institutional investors.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States and France. The company operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients products.

Further Reading: Hold Rating

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