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

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

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

Amphastar Pharmaceuticals Trading Down 0.9 %

Amphastar Pharmaceuticals stock opened at $40.00 on Thursday. The stock has a market cap of $1.96 billion, a P/E ratio of 13.84, a PEG ratio of 0.82 and a beta of 0.82. Amphastar Pharmaceuticals has a fifty-two week low of $38.43 and a fifty-two week high of $67.66. The firm’s fifty day moving average price is $41.61 and its 200-day moving average price is $47.76. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.72 and a current ratio of 2.18.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.20. Amphastar Pharmaceuticals had a net margin of 22.88% and a return on equity of 29.17%. The business had revenue of $171.84 million during the quarter, compared to analysts’ expectations of $171.13 million. Equities research analysts forecast that Amphastar Pharmaceuticals will post 3.6 earnings per share for the current fiscal year.

Insider Transactions at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, Director Floyd F. Petersen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $41.40, for a total value of $124,200.00. Following the completion of the transaction, the director now directly owns 78,409 shares in the company, valued at $3,246,132.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO William J. Peters sold 3,596 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $40.93, for a total value of $147,184.28. Following the completion of the transaction, the chief financial officer now owns 94,103 shares of the company’s stock, valued at approximately $3,851,635.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $124,200.00. Following the completion of the transaction, the director now owns 78,409 shares of the company’s stock, valued at approximately $3,246,132.60. The disclosure for this sale can be found here. Insiders have sold 7,596 shares of company stock worth $313,544 in the last 90 days. 27.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Amphastar Pharmaceuticals by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 379,480 shares of the company’s stock worth $23,471,000 after purchasing an additional 27,102 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Amphastar Pharmaceuticals by 348.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 592,530 shares of the company’s stock valued at $36,648,000 after buying an additional 460,473 shares during the period. TD Asset Management Inc boosted its position in Amphastar Pharmaceuticals by 449.0% in the 4th quarter. TD Asset Management Inc now owns 793,559 shares of the company’s stock valued at $49,082,000 after buying an additional 649,001 shares during the period. Victory Capital Management Inc. grew its stake in Amphastar Pharmaceuticals by 870.9% in the 4th quarter. Victory Capital Management Inc. now owns 237,474 shares of the company’s stock worth $14,688,000 after acquiring an additional 213,014 shares in the last quarter. Finally, Shaker Investments LLC OH increased its position in shares of Amphastar Pharmaceuticals by 136.0% during the fourth quarter. Shaker Investments LLC OH now owns 49,078 shares of the company’s stock worth $3,035,000 after acquiring an additional 28,283 shares during the period. Hedge funds and other institutional investors 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.