Amphastar Pharmaceuticals (NASDAQ:AMPH) Rating Increased to Buy at Needham & Company LLC

Key Points

• Amphastar Pharmaceuticals has been upgraded from a "hold" to a "buy" rating by Needham & Company LLC, with a target price of $36.00, indicating a potential upside of 31.58% from its current price.
• In contrast, other brokerages like Piper Sandler and Wells Fargo have lowered their price targets for Amphastar, reflecting a more cautious outlook on the stock.
• The stock has seen significant movement recently, with a 14.9% increase, and various institutional investors have notably increased their holdings in the company.

Needham & Company LLC upgraded shares of Amphastar Pharmaceuticals (NASDAQ:AMPH - Free Report) from a hold rating to a buy rating in a research report report published on Tuesday, Marketbeat.com reports. They currently have $36.00 price target on the stock.

Several other equities research analysts also recently commented on the stock. Piper Sandler decreased their target price on shares of Amphastar Pharmaceuticals from $30.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $30.00 target price (down from $45.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 12th. Finally, Wells Fargo & Company decreased their target price on shares of Amphastar Pharmaceuticals from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $31.50.

Amphastar Pharmaceuticals Stock Down 0.9%

Shares of NASDAQ:AMPH traded down $0.27 during midday trading on Tuesday, hitting $30.21. 464,374 shares of the company's stock were exchanged, compared to its average volume of 626,533. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.29 and a quick ratio of 2.21. The stock has a 50 day moving average price of $23.67 and a 200-day moving average price of $26.09. The company has a market cap of $1.40 billion, a PE ratio of 11.31 and a beta of 0.76. Amphastar Pharmaceuticals has a 12 month low of $20.39 and a 12 month high of $53.96.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of Amphastar Pharmaceuticals by 43.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,145 shares of the company's stock valued at $43,000 after acquiring an additional 348 shares during the period. Bank of Montreal Can grew its position in shares of Amphastar Pharmaceuticals by 4.6% during the 4th quarter. Bank of Montreal Can now owns 8,215 shares of the company's stock valued at $305,000 after acquiring an additional 361 shares during the period. GAMMA Investing LLC grew its position in shares of Amphastar Pharmaceuticals by 46.6% during the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the company's stock valued at $39,000 after acquiring an additional 424 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Amphastar Pharmaceuticals by 5.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,440 shares of the company's stock valued at $217,000 after acquiring an additional 465 shares during the period. Finally, Signaturefd LLC grew its position in shares of Amphastar Pharmaceuticals by 147.7% during the 1st quarter. Signaturefd LLC now owns 872 shares of the company's stock valued at $25,000 after acquiring an additional 520 shares during the period. 65.09% of the stock is owned by institutional investors.

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.