Amphastar Pharmaceuticals (NASDAQ:AMPH) Given New $20.00 Price Target at Barclays

Amphastar Pharmaceuticals (NASDAQ:AMPH) had its price objective dropped by analysts at Barclays from $23.00 to $20.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective indicates a potential upside of 8.62% from the stock’s previous close.

Other research analysts have also issued reports about the company. Weiss Ratings lowered Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Thursday, May 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $22.00 price target (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Tuesday, April 21st. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday, May 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $24.00.

Amphastar Pharmaceuticals Trading Down 0.2%

NASDAQ:AMPH opened at $18.41 on Wednesday. Amphastar Pharmaceuticals has a 12 month low of $16.65 and a 12 month high of $31.26. The firm has a fifty day simple moving average of $20.08 and a 200-day simple moving average of $23.79. The company has a current ratio of 3.85, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $811.83 million, a P/E ratio of 11.02, a PEG ratio of 3.62 and a beta of 0.91.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its earnings results 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 net margin of 11.00% and a return on equity of 15.12%. The firm had revenue of $171.17 million during the quarter, compared to analyst estimates of $173.46 million. On average, equities research analysts anticipate that Amphastar Pharmaceuticals will post 2.41 earnings per share for the current year.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several institutional investors have recently made changes to their positions in AMPH. FNY Investment Advisers LLC purchased a new stake in Amphastar Pharmaceuticals during the third quarter worth $26,000. Quarry LP acquired a new position in shares of Amphastar Pharmaceuticals in the third quarter worth about $32,000. Farther Finance Advisors LLC raised its position in shares of Amphastar Pharmaceuticals by 46.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,381 shares of the company’s stock worth $37,000 after acquiring an additional 437 shares during the period. GAMMA Investing LLC boosted its stake in shares of Amphastar Pharmaceuticals by 37.8% during the 4th quarter. GAMMA Investing LLC now owns 1,685 shares of the company’s stock worth $45,000 after acquiring an additional 462 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Amphastar Pharmaceuticals by 24.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,233 shares of the company’s stock valued at $60,000 after acquiring an additional 435 shares during the period. 65.09% of the stock is owned by hedge funds and other institutional investors.

About Amphastar Pharmaceuticals

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.