Amphastar Pharmaceuticals Inc (AMPH) is Reiterated by Needham to Buy, Raises Price Target to $ 22

Amphastar Pharmaceuticals Inc (AMPH) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $20 . Needham advised their investors in a research report released on Aug 9, 2016.

On the company’s financial health, Amphastar Pharmaceuticals Inc reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.04. The company had revenue of $68.00 million for the quarter, compared to analysts expectations of $61.67 million. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Amphastar Pharmaceuticals Inc opened for trading at $16.11 and hit $16.465 on the upside on Monday, eventually ending the session at $16.02, with a gain of 0.31% or 0.05 points. The heightened volatility saw the trading volume jump to 2,65,769 shares. Company has a market cap of $718 M.

In a different news, on Jul 19, 2016, William J Peters (CFO, SVP & Treasurer) sold 2,297 shares at $17.76 per share price. According to the SEC, on Jun 17, 2016, Rong Zhou (EVP, Production Center) sold 1,551 shares at $15.85 per share price. On Jun 13, 2016, Richard K Prins (director) sold 7,500 shares at $15.94 per share price, according to the Form-4 filing with the securities and exchange commission.

Amphastar Pharmaceuticals Inc. is a specialty pharmaceutical company. The Company focuses primarily on developing manufacturing marketing and selling technically-challenging generic and injectable and inhalation products. The Company has two operational segments: finished pharmaceutical products and active pharmaceutical ingredients (API products). The finished pharmaceutical products segment manufactures markets and distributes enoxaparin Cortrosyn naloxone lidocaine jelly as well as various other critical and non-critical care drugs. The API segment manufactures and distributes recombinant human insulin and porcine insulin. The Company manufactures and sells approximately 17 products and is developing a portfolio of approximately 13 generic and eight injectable and inhalation product candidates. In addition to its marketed products it has a pipeline of approximately 21 generic and product candidates in various stages of development which target a variety of indications.

Amphastar Pharmaceuticals Inc

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