Zacks Investment Research Downgrades Amphastar Pharmaceuticals (NASDAQ:AMPH) to Hold

Amphastar Pharmaceuticals (NASDAQ:AMPH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Amphastar Pharmaceuticals, Inc. is a specialty pharmaceutical company. It focuses primarily on developing, manufacturing, marketing, and selling generic and proprietary injectable and inhalation products. The company products include Enoxaparin Sodium Injection; Amphadase; Cortrosyn for Injection; and prefilled disposable emergency syringes for crash cart use. Amphastar Pharmaceuticals, Inc. is headquartered in Rancho Cucamonga, California. “

AMPH has been the subject of a number of other research reports. BidaskClub upgraded Amphastar Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 26th. Northland Securities reiterated a “buy” rating and issued a $23.00 price target on shares of Amphastar Pharmaceuticals in a research note on Monday, June 8th. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, June 10th. BMO Capital Markets lifted their target price on shares of Amphastar Pharmaceuticals from $20.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, May 11th. Finally, ValuEngine cut shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.00.

Shares of NASDAQ AMPH opened at $22.12 on Monday. Amphastar Pharmaceuticals has a 1 year low of $12.32 and a 1 year high of $22.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.96 and a quick ratio of 1.67. The firm has a 50-day moving average of $19.56 and a 200 day moving average of $18.02. The stock has a market cap of $996.50 million, a P/E ratio of 21.07 and a beta of 1.12.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.08. Amphastar Pharmaceuticals had a net margin of 15.90% and a return on equity of 4.99%. The business had revenue of $84.69 million during the quarter, compared to the consensus estimate of $81.80 million. Research analysts expect that Amphastar Pharmaceuticals will post 0.5 earnings per share for the current fiscal year.

In other Amphastar Pharmaceuticals news, EVP Rong Zhou sold 13,163 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $18.82, for a total value of $247,727.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Zasloff sold 14,832 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $18.00, for a total transaction of $266,976.00. Following the sale, the director now owns 50,168 shares of the company’s stock, valued at $903,024. The disclosure for this sale can be found here. In the last three months, insiders sold 127,964 shares of company stock valued at $2,389,826. 29.80% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ increased its position in Amphastar Pharmaceuticals by 29.7% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 98,300 shares of the company’s stock valued at $1,459,000 after acquiring an additional 22,500 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Amphastar Pharmaceuticals by 5.3% in the first quarter. Thrivent Financial for Lutherans now owns 28,717 shares of the company’s stock worth $426,000 after purchasing an additional 1,434 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Amphastar Pharmaceuticals by 48.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,240 shares of the company’s stock valued at $256,000 after purchasing an additional 5,624 shares during the period. Eagle Asset Management Inc. increased its position in shares of Amphastar Pharmaceuticals by 11.9% during the 1st quarter. Eagle Asset Management Inc. now owns 317,988 shares of the company’s stock valued at $4,718,000 after purchasing an additional 33,752 shares during the last quarter. Finally, State Street Corp increased its position in shares of Amphastar Pharmaceuticals by 7.8% during the 1st quarter. State Street Corp now owns 1,197,293 shares of the company’s stock valued at $17,768,000 after purchasing an additional 86,792 shares during the last quarter. Hedge funds and other institutional investors own 51.79% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States and France. The company operates through two segments, Finished Pharmaceutical Products and Active Pharmaceutical Ingredients products.

Read More: Preferred Stock

Get a free copy of the Zacks research report on Amphastar Pharmaceuticals (AMPH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Amphastar Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphastar Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.