Amphastar Pharmaceuticals (NASDAQ:AMPH) Stock Gets Price Target Bump from Wells Fargo & Company

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its target price upped by equities research analysts at Wells Fargo & Company from $20.00 to $25.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 11.38% from the company’s previous close.

A number of other brokerages have also recently weighed in on AMPH. Wall Street Zen cut Amphastar Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 1st. Piper Sandler reduced their price objective on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Amphastar Pharmaceuticals from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Barclays lifted 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. Finally, Zacks Research upgraded shares of Amphastar Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $23.33.

Amphastar Pharmaceuticals Price Performance

AMPH stock traded up $0.55 on Friday, hitting $28.21. 114,366 shares of the company’s stock traded hands, compared to its average volume of 509,542. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 5.46 and a beta of 0.93. Amphastar Pharmaceuticals has a 1-year low of $16.65 and a 1-year high of $31.00. The company has a current ratio of 2.40, a quick ratio of 1.71 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average of $25.22 and a 200-day moving average of $22.31.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last announced its earnings results on Thursday, November 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.28. Amphastar Pharmaceuticals had a return on equity of 14.98% and a net margin of 10.76%. The company had revenue of $207.61 million for the quarter, compared to analyst estimates of $197.52 million. On average, analysts forecast that Amphastar Pharmaceuticals will post 2.43 EPS for the current fiscal year.

Insider Activity at Amphastar Pharmaceuticals

In other Amphastar Pharmaceuticals news, Director Richard K. Prins sold 7,973 shares of Amphastar Pharmaceuticals stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $20.30, for a total transaction of $161,851.90. Following the transaction, the director owned 29,625 shares of the company’s stock, valued at $601,387.50. The trade was a 21.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Rong Zhou sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $23.94, for a total value of $239,400.00. Following the completion of the transaction, the executive vice president owned 169,203 shares in the company, valued at $4,050,719.82. This represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 25,299 shares of company stock valued at $580,036. Company insiders own 29.60% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMPH. Dimensional Fund Advisors LP grew its holdings in shares of Amphastar Pharmaceuticals by 12.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,027,947 shares of the company’s stock valued at $39,726,000 after acquiring an additional 228,262 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Amphastar Pharmaceuticals by 1.7% in the first quarter. Renaissance Technologies LLC now owns 553,900 shares of the company’s stock worth $10,851,000 after acquiring an additional 9,200 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of Amphastar Pharmaceuticals by 4.0% during the first quarter. Systematic Financial Management LP now owns 452,898 shares of the company’s stock worth $8,872,000 after acquiring an additional 17,318 shares in the last quarter. Bridge City Capital LLC raised its holdings in shares of Amphastar Pharmaceuticals by 13.3% during the third quarter. Bridge City Capital LLC now owns 383,901 shares of the company’s stock worth $9,908,000 after acquiring an additional 45,193 shares in the last quarter. Finally, Denali Advisors LLC raised its holdings in shares of Amphastar Pharmaceuticals by 41.1% during the second quarter. Denali Advisors LLC now owns 375,965 shares of the company’s stock worth $7,587,000 after acquiring an additional 109,500 shares in the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.

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.