Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Forecasted to Post FY2024 Earnings of $3.48 Per Share

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) – Stock analysts at Capital One Financial raised their FY2024 earnings per share estimates for Amphastar Pharmaceuticals in a report released on Wednesday, April 17th. Capital One Financial analyst T. Chiang now forecasts that the company will post earnings per share of $3.48 for the year, up from their previous forecast of $3.43. The consensus estimate for Amphastar Pharmaceuticals’ current full-year earnings is $3.42 per share.

AMPH has been the subject of several other reports. StockNews.com downgraded Amphastar Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. began coverage on Amphastar Pharmaceuticals in a research report on Tuesday, March 5th. They issued an “overweight” rating and a $60.00 target price for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Amphastar Pharmaceuticals in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.00.

Amphastar Pharmaceuticals Stock Performance

NASDAQ:AMPH opened at $38.65 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $1.89 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.96 and a beta of 0.84. Amphastar Pharmaceuticals has a twelve month low of $35.62 and a twelve month high of $67.66. The stock’s 50-day simple moving average is $46.59 and its 200 day simple moving average is $51.23.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.03). The business had revenue of $178.11 million during the quarter, compared to analyst estimates of $174.90 million. Amphastar Pharmaceuticals had a net margin of 21.34% and a return on equity of 26.95%.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Shaker Investments LLC OH increased its holdings in Amphastar Pharmaceuticals by 136.0% in the fourth quarter. Shaker Investments LLC OH now owns 49,078 shares of the company’s stock worth $3,035,000 after purchasing an additional 28,283 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Amphastar Pharmaceuticals by 44.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 554,850 shares of the company’s stock worth $25,518,000 after purchasing an additional 171,642 shares in the last quarter. Walleye Capital LLC bought a new stake in Amphastar Pharmaceuticals in the third quarter worth approximately $1,833,000. Charles Schwab Investment Management Inc. increased its holdings in Amphastar Pharmaceuticals by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 352,378 shares of the company’s stock worth $16,206,000 after purchasing an additional 24,116 shares in the last quarter. Finally, Rafferty Asset Management LLC bought a new stake in Amphastar Pharmaceuticals in the third quarter worth approximately $205,000. 65.09% of the stock is currently owned by institutional investors.

Insider Transactions at Amphastar Pharmaceuticals

In other news, Director Michael A. Zasloff sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $47.18, for a total transaction of $589,750.00. Following the completion of the transaction, the director now directly owns 21,326 shares in the company, valued at $1,006,160.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael A. Zasloff sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $47.18, for a total transaction of $589,750.00. Following the completion of the transaction, the director now directly owns 21,326 shares in the company, valued at $1,006,160.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Floyd F. Petersen sold 500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $53.10, for a total value of $26,550.00. Following the transaction, the director now owns 80,333 shares of the company’s stock, valued at $4,265,682.30. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $660,860 over the last ninety days. 28.40% of the stock is owned by insiders.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc, a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. It offers BAQSIMI, a nasal spray for the treatment of severe hypoglycemia; Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, to prevent and treat deep vein thrombosis; REXTOVY and Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency.