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

StockNews.com upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) from a hold rating to a buy rating in a report issued on Friday morning.

A number of other analysts have also recently commented on the company. Piper Sandler dropped their price objective on 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 research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.00.

Amphastar Pharmaceuticals Trading Up 2.3 %

NASDAQ:AMPH opened at $50.84 on Friday. The company has a market capitalization of $2.49 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83. The company has a quick ratio of 2.63, a current ratio of 3.52 and a debt-to-equity ratio of 0.82. Amphastar Pharmaceuticals has a 52-week low of $36.56 and a 52-week high of $65.92. The stock has a fifty day simple moving average of $47.27 and a 200-day simple moving average of $43.19.

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

Insider Buying and Selling at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 10,282 shares of Amphastar Pharmaceuticals stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.23, for a total value of $454,772.86. Following the completion of the sale, the chief financial officer now owns 94,103 shares in the company, valued at $4,162,175.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Amphastar Pharmaceuticals news, CFO William J. Peters sold 10,282 shares of Amphastar Pharmaceuticals stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $44.23, for a total value of $454,772.86. Following the completion of the sale, the chief financial officer now owns 94,103 shares in the company, valued at $4,162,175.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard K. Prins sold 17,101 shares of Amphastar Pharmaceuticals stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $43.07, for a total value of $736,540.07. Following the completion of the transaction, the director now directly owns 33,971 shares in the company, valued at $1,463,130.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,383 shares of company stock worth $1,524,123 in the last 90 days. 27.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Silvercrest Asset Management Group LLC lifted its position in Amphastar Pharmaceuticals by 35.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 112,428 shares of the company’s stock worth $4,937,000 after acquiring an additional 29,182 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Amphastar Pharmaceuticals by 61.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 64,564 shares of the company’s stock worth $2,835,000 after acquiring an additional 24,678 shares in the last quarter. Intech Investment Management LLC acquired a new position in Amphastar Pharmaceuticals during the 2nd quarter worth approximately $426,000. Nordea Investment Management AB lifted its position in Amphastar Pharmaceuticals by 0.4% during the 1st quarter. Nordea Investment Management AB now owns 333,014 shares of the company’s stock worth $14,802,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its position in Amphastar Pharmaceuticals by 12.7% during the 2nd quarter. Granite Investment Partners LLC now owns 397,514 shares of the company’s stock worth $15,901,000 after acquiring an additional 44,744 shares in the last quarter. 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.