Amphastar Pharmaceuticals (NASDAQ:AMPH) Given New $25.00 Price Target at Wells Fargo & Company

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price objective hoisted by Wells Fargo & Company from $20.00 to $25.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on the stock. Weiss Ratings raised shares of Amphastar Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Barclays increased their target price on shares of Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Piper Sandler lowered their target price on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Zacks Research raised shares of Amphastar Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Amphastar Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $23.33.

Amphastar Pharmaceuticals Stock Performance

AMPH traded up $0.83 during trading on Friday, hitting $28.49. The stock had a trading volume of 826,253 shares, compared to its average volume of 409,726. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.40 and a quick ratio of 1.71. The company has a 50 day moving average price of $25.35 and a 200-day moving average price of $22.33. Amphastar Pharmaceuticals has a one year low of $16.65 and a one year high of $31.00. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 5.27 and a beta of 0.93.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.28. Amphastar Pharmaceuticals had a return on equity of 14.98% and a net margin of 10.76%. The firm had revenue of $207.61 million for the quarter, compared to analysts’ expectations of $197.52 million. As a group, research analysts predict that Amphastar Pharmaceuticals will post 2.43 EPS for the current year.

Insider Activity

In other news, Director Richard Prins sold 7,973 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $20.30, for a total value of $161,851.90. Following the completion of the transaction, the director directly owned 29,625 shares in the company, valued at approximately $601,387.50. The trade was a 21.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rong Zhou sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $23.94, for a total transaction of $239,400.00. Following the sale, the executive vice president directly owned 169,203 shares of the company’s stock, valued at approximately $4,050,719.82. This trade represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 53,930 shares of company stock worth $1,394,688. 29.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. bought a new stake in Amphastar Pharmaceuticals during the third quarter worth $33,000. Nisa Investment Advisors LLC increased its stake in shares of Amphastar Pharmaceuticals by 183.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,422 shares of the company’s stock valued at $37,000 after purchasing an additional 920 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Amphastar Pharmaceuticals in the 2nd quarter valued at $39,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at $56,000. Finally, State of Wyoming acquired a new position in shares of Amphastar Pharmaceuticals during the 2nd quarter worth $142,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals News Summary

Here are the key news stories impacting Amphastar Pharmaceuticals this week:

• Positive Sentiment: Amphastar reported adjusted third-quarter earnings of $1.14 per share, ahead of analyst estimates of $0.78–$0.86 and up from $0.93 a year earlier. Revenue of $207.6 million also topped estimates of $197.52 million. The earnings and revenue beats are the clearest positive catalysts in the recent news. Company earnings release
• Positive Sentiment: GAAP net income was $37.8 million, or $0.87 per share; adjusted non-GAAP net income was $49.3 million, or $1.14 per share. The results suggest solid quarterly profitability alongside the sales growth. Quarterly results
• Negative Sentiment: Wells Fargo raised its price target from $20 to $25 but kept an “equal weight” rating. The new target remains about 12.2% below the cited current price, which may temper enthusiasm despite the improved target. Wells Fargo price target update

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a biopharmaceutical company that develops, manufactures and markets injectable, inhalation and intranasal products. The company focuses on technically challenging medicines, including complex generics, proprietary products and products based on its drug-delivery technologies.

Its product portfolio includes Primatene MIST, an over-the-counter epinephrine inhaler; Baqsimi, a nasal glucagon product used to treat severe hypoglycemia; and injectable medicines such as glucagon, naloxone, enoxaparin and hyaluronidase.