Amphastar Pharmaceuticals (NASDAQ:AMPH) Receives “Overweight” Rating from Piper Sandler

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

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

Amphastar Pharmaceuticals Stock Performance

Shares of AMPH stock opened at $40.35 on Thursday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.83 and a beta of 0.82. Amphastar Pharmaceuticals has a 52-week low of $38.43 and a 52-week high of $67.66. The company has a quick ratio of 1.72, a current ratio of 2.18 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $41.61 and its 200 day moving average is $48.05.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.20. The business had revenue of $171.84 million for the quarter, compared to the consensus estimate of $171.13 million. Amphastar Pharmaceuticals had a return on equity of 29.17% and a net margin of 22.88%. On average, sell-side analysts anticipate that Amphastar Pharmaceuticals will post 3.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Floyd F. Petersen sold 3,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $41.40, for a total transaction of $124,200.00. Following the sale, the director now directly owns 78,409 shares of the company’s stock, valued at $3,246,132.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 4,500 shares of company stock valued at $188,075. Insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Amphastar Pharmaceuticals by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 2,815,596 shares of the company’s stock worth $174,145,000 after buying an additional 48,203 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in Amphastar Pharmaceuticals by 34.8% during the first quarter. Epoch Investment Partners Inc. now owns 798,462 shares of the company’s stock valued at $35,060,000 after purchasing an additional 205,932 shares during the period. TD Asset Management Inc boosted its holdings in Amphastar Pharmaceuticals by 449.0% in the fourth quarter. TD Asset Management Inc now owns 793,559 shares of the company’s stock valued at $49,082,000 after purchasing an additional 649,001 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Amphastar Pharmaceuticals by 44.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 554,850 shares of the company’s stock worth $25,518,000 after purchasing an additional 171,642 shares during the period. Finally, Boone Capital Management LLC purchased a new position in shares of Amphastar Pharmaceuticals during the 4th quarter valued at about $24,740,000. Institutional investors and hedge funds 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.