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

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

Several other research firms have also recently weighed in on AMPH. Piper Sandler lowered their price objective on shares of Amphastar Pharmaceuticals from $71.00 to $66.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC restated a "hold" rating on shares of Amphastar Pharmaceuticals in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Amphastar Pharmaceuticals Price Performance

NASDAQ:AMPH traded up $1.13 during trading hours on Friday, hitting $50.84. 245,270 shares of the company's stock traded hands, compared to its average volume of 398,321. Amphastar Pharmaceuticals has a 52 week low of $36.56 and a 52 week high of $65.92. The business's fifty day simple moving average is $47.11 and its two-hundred day simple moving average is $43.13. The company has a quick ratio of 2.63, a current ratio of 3.52 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.49 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.88 and a beta of 0.83.

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

Insider Activity

In related news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $46.47, for a total value of $139,410.00. Following the transaction, the director now owns 75,409 shares in the company, valued at $3,504,256.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Amphastar Pharmaceuticals news, Director Floyd F. Petersen sold 3,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $46.47, for a total value of $139,410.00. Following the transaction, the director now directly owns 75,409 shares of the company's stock, valued at $3,504,256.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William J. Peters sold 10,282 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $44.23, for a total value of $454,772.86. Following the sale, the chief financial officer now directly owns 94,103 shares of the company's stock, valued at approximately $4,162,175.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,383 shares of company stock valued at $1,524,123. Corporate insiders own 27.10% of the company's stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Amphastar Pharmaceuticals by 70.0% during the third quarter. GAMMA Investing LLC now owns 663 shares of the company's stock valued at $32,000 after acquiring an additional 273 shares during the last quarter. Innealta Capital LLC bought a new position in Amphastar Pharmaceuticals during the 2nd quarter valued at approximately $55,000. Blue Trust Inc. lifted its holdings in Amphastar Pharmaceuticals by 23.9% in the 2nd quarter. Blue Trust Inc. now owns 1,604 shares of the company's stock worth $70,000 after buying an additional 309 shares during the period. nVerses Capital LLC grew its position in shares of Amphastar Pharmaceuticals by 37.5% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company's stock worth $88,000 after buying an additional 600 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Amphastar Pharmaceuticals during the second quarter valued at approximately $93,000. Institutional investors own 65.09% of the company's stock.

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.