Amphastar Pharmaceuticals' (AMPH) "Buy" Rating Reaffirmed at Needham & Company LLC

Key Points

• Needham & Company LLC has reaffirmed a "buy" rating for Amphastar Pharmaceuticals (AMPH), setting a target price of $36.00, indicating a potential upside of 48.39% from its current price.
• Amphastar's stock has seen significant target price adjustments from other analysts, with Bank of America raising theirs from $28.00 to $32.00 while Zacks upgraded the stock to "strong-buy."
• Institutional investors currently own 65.09% of Amphastar Pharmaceuticals' stock, with notable activity including GAMMA Investing LLC increasing its holdings by 46.6% in the first quarter.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $36.00 target price on the stock. Needham & Company LLC's target price would suggest a potential upside of 48.39% from the stock's current price.

A number of other equities research analysts have also recently weighed in on AMPH. Bank of America raised their price target on Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Zacks Research raised Amphastar Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, October 8th. Finally, Piper Sandler lowered their target price on Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.60.

Amphastar Pharmaceuticals Trading Up 2.2%

AMPH stock opened at $24.26 on Wednesday. The business has a fifty day moving average price of $27.66 and a 200 day moving average price of $25.21. Amphastar Pharmaceuticals has a fifty-two week low of $20.39 and a fifty-two week high of $53.96. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.29 and a quick ratio of 2.21.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 46.6% in the first quarter. GAMMA Investing LLC now owns 1,333 shares of the company's stock valued at $39,000 after purchasing an additional 424 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Amphastar Pharmaceuticals by 5.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,440 shares of the company's stock worth $217,000 after acquiring an additional 465 shares in the last quarter. Signaturefd LLC raised its holdings in Amphastar Pharmaceuticals by 147.7% during the first quarter. Signaturefd LLC now owns 872 shares of the company's stock worth $25,000 after acquiring an additional 520 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in Amphastar Pharmaceuticals by 6.9% during the first quarter. Hohimer Wealth Management LLC now owns 8,005 shares of the company's stock worth $232,000 after acquiring an additional 520 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Amphastar Pharmaceuticals by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,783 shares of the company's stock worth $139,000 after acquiring an additional 580 shares in the last quarter. 65.09% of the stock is owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals Company Profile

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.

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