Amphastar Pharmaceuticals (NASDAQ:AMPH) Raised to Strong-Buy at Zacks Research

Key Points

• Amphastar Pharmaceuticals was upgraded from a "hold" to a "strong-buy" rating by Zacks Research, signaling increased confidence in the stock.
• Multiple analysts have adjusted their price targets for Amphastar, with Bank of America raising it from $28.00 to $32.00, while Piper Sandler lowered theirs significantly to $25.00.
• Approximately 65.09% of Amphastar's shares are currently held by institutional investors, reflecting a significant level of vested interest from major financial entities.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Needham & Company LLC upgraded Amphastar Pharmaceuticals from a "hold" rating to a "buy" rating and set a $36.00 price objective for the company in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, October 8th. Piper Sandler lowered their price objective 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. Finally, Bank of America raised their price objective on shares of Amphastar Pharmaceuticals from $28.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $31.60.

Amphastar Pharmaceuticals Trading Up 2.4%

AMPH opened at $23.78 on Thursday. The firm's fifty day moving average is $27.86 and its two-hundred day moving average is $25.27. The firm has a market cap of $1.11 billion, a PE ratio of 8.91 and a beta of 0.75. Amphastar Pharmaceuticals has a twelve month low of $20.39 and a twelve month high of $53.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.21 and a current ratio of 3.29.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMPH. Rice Hall James & Associates LLC acquired a new position in shares of Amphastar Pharmaceuticals during the 3rd quarter worth about $3,447,000. Farther Finance Advisors LLC boosted its position in Amphastar Pharmaceuticals by 356.0% during the third quarter. Farther Finance Advisors LLC now owns 944 shares of the company's stock valued at $25,000 after purchasing an additional 737 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in Amphastar Pharmaceuticals by 5.0% in the second quarter. Texas Permanent School Fund Corp now owns 54,482 shares of the company's stock valued at $1,251,000 after purchasing an additional 2,576 shares in the last quarter. Cim LLC increased its position in shares of Amphastar Pharmaceuticals by 15.6% during the 2nd quarter. Cim LLC now owns 11,429 shares of the company's stock worth $262,000 after purchasing an additional 1,541 shares during the last quarter. Finally, Hohimer Wealth Management LLC increased its position in shares of Amphastar Pharmaceuticals by 48.0% during the 2nd quarter. Hohimer Wealth Management LLC now owns 11,845 shares of the company's stock worth $272,000 after purchasing an additional 3,840 shares during the last quarter. 65.09% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.