Piper Sandler analyst David Amsellem reiterated a Buy rating on Amphastar Pharmaceuticals (AMPH – Research Report) today and set a price target of $71.00. The company’s shares closed yesterday at $65.00.
Amsellem covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Alkermes, and Revance Therapeutics. According to TipRanks, Amsellem has an average return of -2.4% and a 41.85% success rate on recommended stocks.
Amphastar Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $70.50, implying an 8.46% upside from current levels. In a report released on July 25, Jefferies also initiated coverage with a Buy rating on the stock with a $70.00 price target.
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Based on Amphastar Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $140.02 million and a net profit of $26.03 million. In comparison, last year the company earned a revenue of $120.37 million and had a net profit of $24.25 million
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMPH in relation to earlier this year. Most recently, in June 2023, Rong Zhou, the EVP, Production Center of AMPH bought 9,651.00 shares for a total of $109,345.83.
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Amphastar Pharmaceuticals, Inc. engages in the development, manufacture, market, and sale of technically challenging and proprietary injectable, inhalation, and intranasal products. It operates through Finished Pharmaceutical Products, and Active Pharmaceutical Ingredients Products segments. The Finished Pharmaceutical Products segment manufactures, markets and distributes enoxaparin, cortrosyn, amphadase, naloxone, lidocaine jelly, as well as various other critical and non-critical care drugs. The Active Pharmaceutical Ingredients Products segment manufactures and distributes recombinant human insulin and porcine insulin. The company was founded by Zi-Ping Luo and Yong Feng Zhang on February 29, 1996 and is headquartered in Rancho Cucamonga, CA.
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