Capital One Financial launches coverage of Amphastar Pharmaceuticals (NASDAQ:AMPH)


Capital One Financial began to cover the shares of Amphastar Pharmaceuticals (NASDAQ: AMPHGet a rating) in a report released Friday morning, market beat reports. The company issued an overweight rating and a target price of $44.00 on the stock.

Several other brokerages have also recently commented on AMPH. Northland Securities raised its target price on Amphastar Pharmaceuticals from $33.00 to $43.00 in a Monday, April 11 report. StockNews.com assumed cover for Amphastar Pharmaceuticals in a Thursday, March 31 report. They set a buy rating on the stock. One investment analyst gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, Amphastar Pharmaceuticals has a moderate average buy rating and an average price target of $38.50.

Amphastar Pharmaceuticals Stock Performance

Shares of NASDAQ: AMPH opened at $37.39 on Friday. The company’s fifty-day moving average price is $35.18 and its two-hundred-day moving average price is $33.11. Amphastar Pharmaceuticals has a fifty-two week low of $17.56 and a fifty-two week high of $44.46. The stock has a market capitalization of $1.83 billion, a price-earnings ratio of 23.22 and a beta of 0.67. The company has a debt ratio of 0.16, a current ratio of 3.19 and a quick ratio of 2.35.

Amphastar Pharmaceuticals (NASDAQ: AMPHGet a rating) last announced its quarterly results on Monday, May 9. The company reported earnings per share of $0.47 for the quarter, beating consensus analyst estimates of $0.33 by $0.14. Amphastar Pharmaceuticals had a return on equity of 17.35% and a net margin of 17.87%. The company posted revenue of $120.37 million for the quarter, compared to $110.60 million expected by analysts. In the same period a year earlier, the company posted earnings of $0.27 per share. As a group, analysts predict Amphastar Pharmaceuticals will post EPS of 1.46 for the current fiscal year.

Insider activity

In other news, Director Michael A. Zasloff sold 10,291 shares of the company in a transaction on Monday, May 16. The stock was sold at an average price of $35.61, for a total transaction of $366,462.51. Following the transaction, the director now owns 47,206 shares of the company, valued at $1,681,005.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. Separately, director Diane G. Gerst sold 1,813 shares of the company in a trade on Tuesday, July 5. The stock was sold at an average price of $35.00, for a total transaction of $63,455.00. Following the transaction, the director now owns 12,842 shares of the company, valued at $449,470. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. Additionally, director Michael A. Zasloff sold 10,291 shares of the company in a trade on Monday, May 16. The shares were sold at an average price of $35.61, for a total value of $366,462.51. As a result of the transaction, the administrator now directly owns 47,206 shares of the company, valued at approximately $1,681,005.66. Disclosure of this sale can be found here. Insiders sold 148,141 shares of the company valued at $5,168,850 in the past 90 days. 27.80% of the shares are held by insiders of the company.

Hedge funds weigh on Amphastar Pharmaceuticals

Hedge funds have recently increased or reduced their holdings in the stock. Lazard Asset Management LLC acquired a new position in Amphastar Pharmaceuticals in the fourth quarter valued at approximately $42,000. Point72 Hong Kong Ltd acquired a new position in Amphastar Pharmaceuticals in the first quarter worth approximately $74,000. Advisor Group Holdings Inc. increased its stake in Amphastar Pharmaceuticals by 314.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,311 shares of the company valued at $54,000 after purchasing an additional 1,753 shares during the period. Captrust Financial Advisors increased its stake in Amphastar Pharmaceuticals by 114.4% in the first quarter. Captrust Financial Advisors now owns 2,770 shares of the company valued at $99,000 after purchasing an additional 1,478 shares during the period. Finally, KBC Group NV acquired a new position in Amphastar Pharmaceuticals in the second quarter worth approximately $111,000. Institutional investors and hedge funds hold 59.79% of the company’s shares.

About Amphastar Pharmaceuticals

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Amphastar Pharmaceuticals, Inc., a biopharmaceutical company, develops, manufactures, markets and sells generic and proprietary injectable, inhalation and intranasal products in the United States, China and France. The Company operates through two segments, Finished Pharmaceuticals and APIs.

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