Amphastar Pharmaceuticals (NASDAQ:AMPH) PT Lowered to $66.00

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price target lowered by Piper Sandler from $71.00 to $66.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 54.03% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. StockNews.com raised Amphastar Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Thursday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.00.

Amphastar Pharmaceuticals Stock Down 2.7 %

NASDAQ AMPH traded down $1.21 on Thursday, reaching $42.85. The company had a trading volume of 365,605 shares, compared to its average volume of 419,695. 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 fifty day moving average is $40.36 and its 200 day moving average is $44.10. Amphastar Pharmaceuticals has a 52-week low of $36.56 and a 52-week high of $65.92. The stock has a market capitalization of $2.10 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.75 and a beta of 0.79.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.20. The business had revenue of $171.84 million for the quarter, compared to analysts’ expectations of $171.13 million. Amphastar Pharmaceuticals had a net margin of 22.88% and a return on equity of 29.17%. Sell-side analysts anticipate that Amphastar Pharmaceuticals will post 3.59 earnings per share for the current fiscal year.

Insider Activity at Amphastar Pharmaceuticals

In other news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction 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 directly owns 78,409 shares in the company, valued at $3,246,132.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 transaction of $124,200.00. Following the sale, the director now owns 78,409 shares of the company’s stock, valued at approximately $3,246,132.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William J. Peters sold 10,282 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $44.23, for a total transaction of $454,772.86. Following the completion of the transaction, the chief financial officer now directly owns 94,103 shares of the company’s stock, valued at $4,162,175.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,378 shares of company stock worth $747,482. Corporate insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd grew its stake in Amphastar Pharmaceuticals by 8.0% in the 2nd quarter. WINTON GROUP Ltd now owns 22,234 shares of the company’s stock worth $889,000 after buying an additional 1,653 shares in the last quarter. American Century Companies Inc. lifted its stake in Amphastar Pharmaceuticals by 19.7% during the second quarter. American Century Companies Inc. now owns 740,408 shares of the company’s stock worth $29,616,000 after purchasing an additional 121,764 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of Amphastar Pharmaceuticals by 18.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 38,626 shares of the company’s stock valued at $1,545,000 after purchasing an additional 5,922 shares during the last quarter. Quest Partners LLC increased its position in shares of Amphastar Pharmaceuticals by 434,800.0% during the 2nd quarter. Quest Partners LLC now owns 4,349 shares of the company’s stock valued at $174,000 after purchasing an additional 4,348 shares during the last quarter. Finally, Gallacher Capital Management LLC bought a new stake in Amphastar Pharmaceuticals in the 2nd quarter worth approximately $279,000. 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.