Amphastar Pharmaceuticals (NASDAQ:AMPH) Shares Gap Down - What's Next?

Key Points

• Amphastar's shares gapped down pre-market, opening at $18.58 versus the prior close of $24.03 and last trading around $19.44 on heavy volume (~554,654 shares), a drop of roughly 22.7% from the previous close.
• Several analysts cut ratings and targets (Weiss downgraded to "sell"; Jefferies trimmed its target to $22 and Barclays to $23), leaving a MarketBeat consensus of "Hold" with an average price target of $27.43.
• The company recently missed quarterly estimates (EPS $0.73 vs. $0.97 expected; revenue $183.11M vs. $190.48M) and the stock now trades below its 50‑ and 200‑day moving averages ($20.80 and $24.57), with a PE of 9.03.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $24.03, but opened at $18.58. Amphastar Pharmaceuticals shares last traded at $19.4380, with a volume of 554,654 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMPH. Weiss Ratings lowered shares of Amphastar Pharmaceuticals from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, April 10th. Jefferies Financial Group reaffirmed a "hold" rating and set a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, April 21st. Needham & Company LLC reissued a "hold" rating on shares of Amphastar Pharmaceuticals in a research report on Friday. Wells Fargo & Company lowered their price target on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Friday, February 27th. Finally, Barclays decreased their target price on shares of Amphastar Pharmaceuticals from $30.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $27.43.

Amphastar Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 4.02 and a quick ratio of 2.90. The company has a market capitalization of $814.77 million, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.93 and a beta of 0.97. The stock's 50 day simple moving average is $20.80 and its 200-day simple moving average is $24.57.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.24). Amphastar Pharmaceuticals had a return on equity of 17.58% and a net margin of 13.63%.The firm had revenue of $183.11 million for the quarter, compared to analysts' expectations of $190.48 million. As a group, equities analysts forecast that Amphastar Pharmaceuticals, Inc. will post 2.93 earnings per share for the current fiscal year.

Institutional Trading of Amphastar Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in Amphastar Pharmaceuticals by 356.0% during the third quarter. Farther Finance Advisors LLC now owns 944 shares of the company's stock worth $25,000 after purchasing an additional 737 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Amphastar Pharmaceuticals during the third quarter worth approximately $26,000. Global Retirement Partners LLC grew its position in shares of Amphastar Pharmaceuticals by 219.0% during the third quarter. Global Retirement Partners LLC now owns 1,024 shares of the company's stock worth $27,000 after acquiring an additional 703 shares during the last quarter. Quarry LP purchased a new position in shares of Amphastar Pharmaceuticals during the third quarter worth approximately $32,000. Finally, GAMMA Investing LLC grew its position in shares of Amphastar Pharmaceuticals by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 1,685 shares of the company's stock worth $45,000 after acquiring an additional 462 shares during the last quarter. Institutional investors and hedge funds own 65.09% of the company's stock.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company's manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar's portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.

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