Amphastar Pharmaceuticals (NASDAQ:AMPH) Upgraded to Buy at StockNews.com

Amphastar Pharmaceuticals (NASDAQ:AMPH) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Thursday, August 8th. Piper Sandler decreased their price target on Amphastar Pharmaceuticals from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Amphastar Pharmaceuticals Stock Down 2.2 %

AMPH stock opened at $49.71 on Friday. The company’s 50 day moving average is $47.11 and its two-hundred day moving average is $43.13. The stock has a market cap of $2.43 billion, a P/E ratio of 17.20, a PEG ratio of 0.88 and a beta of 0.83. Amphastar Pharmaceuticals has a twelve month low of $36.56 and a twelve month high of $65.92. The company has a current ratio of 3.52, a quick ratio of 2.63 and a debt-to-equity ratio of 0.82.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The firm had revenue of $182.39 million for the quarter, compared to analyst estimates of $171.29 million. Amphastar Pharmaceuticals had a net margin of 23.36% and a return on equity of 29.79%. Research analysts expect that Amphastar Pharmaceuticals will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Floyd F. Petersen sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total value of $139,410.00. Following the transaction, the director now directly owns 75,409 shares of the company’s stock, valued at approximately $3,504,256.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total transaction of $139,410.00. Following the sale, the director now owns 75,409 shares of the company’s stock, valued at approximately $3,504,256.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rong Zhou sold 4,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $48.35, for a total value 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 approximately $5,724,059.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,383 shares of company stock worth $1,524,123. 27.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Amphastar Pharmaceuticals by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 2,815,596 shares of the company’s stock valued at $174,145,000 after purchasing an additional 48,203 shares in the last quarter. TD Asset Management Inc grew its position in Amphastar Pharmaceuticals by 67.4% during the 2nd quarter. TD Asset Management Inc now owns 1,691,569 shares of the company’s stock worth $67,663,000 after acquiring an additional 680,976 shares during the last quarter. Epoch Investment Partners Inc. grew its position in Amphastar Pharmaceuticals by 35.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,078,852 shares of the company’s stock worth $43,154,000 after acquiring an additional 280,390 shares during the last quarter. American Century Companies Inc. lifted its holdings in Amphastar Pharmaceuticals by 19.7% during the 2nd quarter. American Century Companies Inc. now owns 740,408 shares of the company’s stock worth $29,616,000 after buying an additional 121,764 shares during the period. Finally, Millennium Management LLC lifted its holdings in Amphastar Pharmaceuticals by 84.6% during the 2nd quarter. Millennium Management LLC now owns 738,748 shares of the company’s stock worth $29,550,000 after buying an additional 338,653 shares during the period. 65.09% of the stock is owned by institutional investors and hedge funds.

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.