Amphastar Pharmaceuticals Inc (AMPH) Expected to Announce Quarterly Sales of $60.11 Million

Wall Street analysts forecast that Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) will report $60.11 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Amphastar Pharmaceuticals’ earnings, with the highest sales estimate coming in at $67.73 million and the lowest estimate coming in at $55.90 million. Amphastar Pharmaceuticals posted sales of $63.54 million during the same quarter last year, which would indicate a negative year over year growth rate of 5.4%. The firm is expected to report its next quarterly earnings results on Monday, March 12th.

According to Zacks, analysts expect that Amphastar Pharmaceuticals will report full-year sales of $60.11 million for the current year, with estimates ranging from $234.00 million to $247.51 million. For the next financial year, analysts expect that the firm will report sales of $310.99 million per share, with estimates ranging from $300.60 million to $325.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Amphastar Pharmaceuticals.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last issued its earnings results on Wednesday, November 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. Amphastar Pharmaceuticals had a net margin of 0.12% and a return on equity of 2.30%. The company had revenue of $57.90 million for the quarter, compared to analyst estimates of $57.23 million. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year.

Several brokerages have weighed in on AMPH. Piper Jaffray Companies restated a “buy” rating and set a $26.00 target price on shares of Amphastar Pharmaceuticals in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Amphastar Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, January 23rd. BidaskClub upgraded shares of Amphastar Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, January 19th. Needham & Company LLC upped their target price on shares of Amphastar Pharmaceuticals from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Finally, BMO Capital Markets increased their price target on shares of Amphastar Pharmaceuticals from $16.00 to $17.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $20.83.

Amphastar Pharmaceuticals (NASDAQ AMPH) opened at $17.94 on Thursday. The company has a current ratio of 3.08, a quick ratio of 1.86 and a debt-to-equity ratio of 0.13. Amphastar Pharmaceuticals has a 1 year low of $12.05 and a 1 year high of $19.95. The firm has a market cap of $824.80, a PE ratio of 116.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51.

In other news, Director Stephen B. Shohet sold 7,862 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $18.04, for a total value of $141,830.48. Following the sale, the director now directly owns 31,978 shares in the company, valued at $576,883.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William J. Peters sold 6,226 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $19.67, for a total transaction of $122,465.42. The disclosure for this sale can be found here. Insiders sold 75,443 shares of company stock worth $1,434,441 over the last quarter. Company insiders own 11.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan lifted its stake in shares of Amphastar Pharmaceuticals by 58.8% during the third quarter. Municipal Employees Retirement System of Michigan now owns 13,390 shares of the company’s stock valued at $239,000 after buying an additional 4,960 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of Amphastar Pharmaceuticals during the fourth quarter valued at approximately $242,000. SG Americas Securities LLC lifted its stake in shares of Amphastar Pharmaceuticals by 164.7% during the third quarter. SG Americas Securities LLC now owns 16,385 shares of the company’s stock valued at $293,000 after buying an additional 10,195 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Amphastar Pharmaceuticals by 70.2% during the third quarter. BNP Paribas Arbitrage SA now owns 17,946 shares of the company’s stock valued at $321,000 after buying an additional 7,401 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Amphastar Pharmaceuticals by 7.2% during the second quarter. Thrivent Financial For Lutherans now owns 21,610 shares of the company’s stock valued at $386,000 after buying an additional 1,460 shares during the period. 43.94% of the stock is currently owned by institutional investors and hedge funds.

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Amphastar Pharmaceuticals Company Profile

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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