Amphastar Pharmaceuticals, Inc. (AMPH) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) from a hold rating to a sell rating in a research report report published on Tuesday morning.

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. “

Several other equities analysts also recently issued reports on the stock. TheStreet raised shares of Amphastar Pharmaceuticals from a c rating to a b- rating in a research note on Monday, June 26th. Wells Fargo & Company reaffirmed a buy rating on shares of Amphastar Pharmaceuticals in a research note on Saturday, July 22nd. Piper Jaffray Companies set a $20.00 price target on shares of Amphastar Pharmaceuticals and gave the stock a buy rating in a research note on Saturday, July 29th. BMO Capital Markets reaffirmed a hold rating and set a $16.00 price target on shares of Amphastar Pharmaceuticals in a research note on Monday, July 31st. Finally, BidaskClub downgraded shares of Amphastar Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Amphastar Pharmaceuticals presently has an average rating of Hold and an average target price of $20.17.

Amphastar Pharmaceuticals (NASDAQ:AMPH) opened at 18.67 on Tuesday. The stock has a market capitalization of $862.46 million, a price-to-earnings ratio of 242.47 and a beta of 1.69. Amphastar Pharmaceuticals has a 1-year low of $12.05 and a 1-year high of $21.75. The firm has a 50-day moving average of $16.86 and a 200-day moving average of $16.30.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $65.20 million for the quarter, compared to the consensus estimate of $63.40 million. Amphastar Pharmaceuticals had a net margin of 1.61% and a return on equity of 2.42%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that Amphastar Pharmaceuticals will post $0.27 EPS for the current year.

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Amphastar Pharmaceuticals declared that its Board of Directors has approved a share buyback plan on Wednesday, August 9th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

In other news, Director Richard K. Prins sold 5,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $14.80, for a total value of $74,000.00. Following the transaction, the director now owns 33,844 shares of the company’s stock, valued at approximately $500,891.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen B. Shohet sold 7,862 shares of the firm’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $18.73, for a total transaction of $147,255.26. The disclosure for this sale can be found here. In the last three months, insiders sold 137,268 shares of company stock worth $2,472,351. Insiders own 11.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMPH. Citadel Advisors LLC grew its holdings in Amphastar Pharmaceuticals by 1,823.3% during the 1st quarter. Citadel Advisors LLC now owns 355,566 shares of the company’s stock valued at $5,156,000 after purchasing an additional 337,079 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Amphastar Pharmaceuticals by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,331,842 shares of the company’s stock valued at $23,786,000 after purchasing an additional 270,654 shares in the last quarter. Vanguard Group Inc. grew its holdings in Amphastar Pharmaceuticals by 10.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,414,797 shares of the company’s stock valued at $43,128,000 after purchasing an additional 235,033 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Amphastar Pharmaceuticals by 143.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 362,947 shares of the company’s stock valued at $6,482,000 after purchasing an additional 213,572 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Amphastar Pharmaceuticals by 295.1% during the 2nd quarter. Citigroup Inc. now owns 221,729 shares of the company’s stock valued at $3,960,000 after purchasing an additional 165,613 shares in the last quarter. 44.26% of the stock is owned by institutional investors and hedge funds.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company. The Company focuses primarily on developing, manufacturing, marketing and selling generic and injectable, inhalation and intranasal products. The Company has two segments: finished pharmaceutical products and active pharmaceutical ingredients (API) products.

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