Amphastar Pharmaceuticals (NASDAQ:AMPH) Trading Up 5.5% – Still a Buy?

Shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) were up 5.5% during trading on Friday . The stock traded as high as $19.50 and last traded at $19.7310. Approximately 85,434 shares changed hands during trading, a decline of 84% from the average daily volume of 532,700 shares. The stock had previously closed at $18.70.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays reduced their target price on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday. Weiss Ratings downgraded Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, April 10th. Jefferies Financial Group reissued a “hold” rating and set a $22.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, April 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Thursday, May 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $21.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $24.00.

Amphastar Pharmaceuticals Stock Up 5.4%

The firm has a market cap of $869.12 million, a PE ratio of 11.88, a P/E/G ratio of 3.56 and a beta of 0.91. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.85 and a quick ratio of 2.82. The business has a fifty day moving average price of $20.02 and a two-hundred day moving average price of $23.61.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.28). Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%.The business had revenue of $171.17 million during the quarter, compared to analysts’ expectations of $173.46 million. On average, analysts anticipate that Amphastar Pharmaceuticals, Inc. will post 2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Amphastar Pharmaceuticals by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,027,947 shares of the company’s stock worth $39,726,000 after buying an additional 228,262 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Amphastar Pharmaceuticals by 1.6% in the fourth quarter. TD Asset Management Inc now owns 1,963,052 shares of the company’s stock worth $52,571,000 after acquiring an additional 31,160 shares during the last quarter. State Street Corp increased its stake in shares of Amphastar Pharmaceuticals by 2.1% in the fourth quarter. State Street Corp now owns 1,531,786 shares of the company’s stock worth $41,021,000 after acquiring an additional 31,044 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Amphastar Pharmaceuticals by 3.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,394,463 shares of the company’s stock worth $37,344,000 after acquiring an additional 40,536 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Amphastar Pharmaceuticals by 41.6% during the fourth quarter. Marshall Wace LLP now owns 1,237,284 shares of the company’s stock valued at $33,134,000 after purchasing an additional 363,216 shares during the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.