Amphastar Pharmaceuticals (NASDAQ:AMPH) Rating Increased to Hold at Zacks Investment Research

Amphastar Pharmaceuticals (NASDAQ:AMPH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors 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. “

A number of other research firms have also issued reports on AMPH. BidaskClub raised shares of Amphastar Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, January 1st. Northland Securities raised shares of Amphastar Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a research note on Monday, October 5th. Finally, Wells Fargo & Company cut shares of Amphastar Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $21.00 price objective on the stock. in a research note on Friday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.25.

AMPH traded down $0.30 during trading on Monday, reaching $19.50. 11,282 shares of the company’s stock were exchanged, compared to its average volume of 270,200. Amphastar Pharmaceuticals has a 1 year low of $12.32 and a 1 year high of $22.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.86 and a quick ratio of 1.73. The stock has a market capitalization of $926.33 million, a P/E ratio of 139.29 and a beta of 0.87. The company’s fifty day simple moving average is $18.89 and its 200-day simple moving average is $19.88.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings results on Wednesday, November 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. Amphastar Pharmaceuticals had a net margin of 1.97% and a return on equity of 5.50%. The company had revenue of $83.43 million during the quarter, compared to analyst estimates of $90.81 million. Equities analysts forecast that Amphastar Pharmaceuticals will post 0.38 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Amphastar Pharmaceuticals by 4.4% during the 3rd quarter. BlackRock Inc. now owns 6,903,389 shares of the company’s stock worth $129,439,000 after purchasing an additional 291,461 shares during the period. Federated Hermes Inc. grew its stake in Amphastar Pharmaceuticals by 5.4% in the 3rd quarter. Federated Hermes Inc. now owns 2,740,358 shares of the company’s stock valued at $51,381,000 after acquiring an additional 140,251 shares during the period. Vanguard Group Inc. grew its stake in Amphastar Pharmaceuticals by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,390,120 shares of the company’s stock valued at $53,682,000 after acquiring an additional 6,470 shares during the period. State Street Corp grew its stake in Amphastar Pharmaceuticals by 2.4% in the 3rd quarter. State Street Corp now owns 1,290,490 shares of the company’s stock valued at $24,197,000 after acquiring an additional 30,272 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Amphastar Pharmaceuticals by 0.3% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 817,515 shares of the company’s stock valued at $15,328,000 after acquiring an additional 2,386 shares during the period. 55.12% of the stock is currently owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

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

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