Amphastar Pharmaceuticals’ (AMPH) Overweight Rating Reiterated at Piper Jaffray Cos.

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Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Jaffray Cos. in a report released on Wednesday. They presently have a $23.00 price objective on the stock, up from their prior price objective of $22.00. Piper Jaffray Cos.‘s price target indicates a potential upside of 21.63% from the stock’s previous close.
Shares of Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 18.85 on Wednesday. Amphastar Pharmaceuticals has a one year low of $10.50 and a one year high of $21.16. The stock has a 50 day moving average of $17.96 and a 200-day moving average of $14.80. The company has a market capitalization of $850.53 million and a PE ratio of 61.20.
Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Monday, August 8th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.22. The firm had revenue of $68 million for the quarter, compared to the consensus estimate of $62.10 million. During the same period in the prior year, the business earned ($0.09) EPS. Amphastar Pharmaceuticals’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities analysts forecast that Amphastar Pharmaceuticals will post $0.37 earnings per share for the current fiscal year.

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Several hedge funds and institutional investors have modified their holdings of AMPH. Millennium Management LLC boosted its position in shares of Amphastar Pharmaceuticals by 146.2% in the fourth quarter. Millennium Management LLC now owns 137,949 shares of the company’s stock worth $1,963,000 after buying an additional 81,912 shares in the last quarter. Gupta Wealth Management LLC boosted its position in shares of Amphastar Pharmaceuticals by 33.3% in the fourth quarter. Gupta Wealth Management LLC now owns 100,000 shares of the company’s stock worth $1,423,000 after buying an additional 25,000 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Amphastar Pharmaceuticals by 43.4% in the first quarter. Acadian Asset Management LLC now owns 452,371 shares of the company’s stock worth $5,428,000 after buying an additional 136,816 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Amphastar Pharmaceuticals during the first quarter worth about $180,000. Finally, Teachers Advisors Inc. boosted its position in shares of Amphastar Pharmaceuticals by 18.8% in the first quarter. Teachers Advisors Inc. now owns 492,136 shares of the company’s stock worth $5,906,000 after buying an additional 77,910 shares in the last quarter.
AMPH has been the subject of a number of other research reports. Needham & Company LLC lowered their target price on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, May 10th. Zacks Investment Research downgraded shares of Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. BMO Capital Markets initiated coverage on shares of Amphastar Pharmaceuticals in a research note on Tuesday, June 28th. They set a “market perform” rating and a $17.00 target price for the company. Finally, Jefferies Group lifted their target price on shares of Amphastar Pharmaceuticals from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.00.
In other news, CFO William J. Peters sold 2,297 shares of Amphastar Pharmaceuticals stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $17.76, for a total transaction of $40,794.72. Following the completion of the transaction, the chief financial officer now directly owns 64,652 shares in the company, valued at $1,148,219.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jason B. Shandell sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $19.95, for a total transaction of $199,500.00. Following the transaction, the general counsel now owns 212,961 shares of the company’s stock, valued at $4,248,571.95. The disclosure for this sale can be found here.
Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable and inhalation products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.

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