Amphastar Pharmaceuticals (NASDAQ:AMPH) Given Overweight Rating at Piper Sandler

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

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Amphastar Pharmaceuticals in a research report on Tuesday, March 5th. They issued an overweight rating and a $60.00 price objective on the stock. StockNews.com upgraded Amphastar Pharmaceuticals from a hold rating to a buy rating in a report on Monday, May 13th. Finally, Needham & Company LLC reissued a hold rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Amphastar Pharmaceuticals currently has a consensus rating of Moderate Buy and an average price target of $66.00.

Amphastar Pharmaceuticals Trading Up 0.8 %

Shares of AMPH stock opened at $40.35 on Thursday. The business has a 50-day moving average of $41.61 and a 200 day moving average of $48.05. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.18 and a quick ratio of 1.72. Amphastar Pharmaceuticals has a 1-year low of $38.43 and a 1-year high of $67.66. The stock has a market capitalization of $1.97 billion, a PE ratio of 13.96, a P/E/G ratio of 0.83 and a beta of 0.82.

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

Insiders Place Their Bets

In related news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Monday, June 10th. The stock was 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 in the company, valued at $3,246,132.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 4,500 shares of company stock worth $188,075. Company insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMPH. Exchange Traded Concepts LLC increased its stake in shares of Amphastar Pharmaceuticals by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,440 shares of the company’s stock valued at $1,326,000 after purchasing an additional 169 shares in the last quarter. Quadrant Capital Group LLC increased its position in Amphastar Pharmaceuticals by 27.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,026 shares of the company’s stock valued at $63,000 after buying an additional 223 shares in the last quarter. Bridge City Capital LLC raised its stake in Amphastar Pharmaceuticals by 0.8% during the first quarter. Bridge City Capital LLC now owns 34,773 shares of the company’s stock valued at $1,527,000 after buying an additional 275 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Amphastar Pharmaceuticals by 2.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 14,923 shares of the company’s stock worth $655,000 after acquiring an additional 399 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in shares of Amphastar Pharmaceuticals by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 32,704 shares of the company’s stock worth $1,436,000 after acquiring an additional 424 shares during the last quarter. 65.09% of the stock is owned by hedge funds and other 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.