Wells Fargo took its Amphastar Pharmaceuticals [AMPH] rating to the equivalent of Equal-Weight from Overweight, and the price target to $21.0, in a research note dated 2021-01-08. That figure represents around a 1.69% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Northland Capital’s analysts upgrading the shares from “a Market perform” rating to “an Outperform” rating in a research note to investors issued in early October. Meanwhile, Northland Capital had launched its coverage on AMPH with “an Outperform”, in a research note produced for clients May 01, 2020. In addition, there was a downgrade from Piper Jaffray on March 13, 2019. The rater changed AMPH from “an Overweight” to “a Neutral”.
Is Amphastar Pharmaceuticals Inc. [NASDAQ:AMPH] a Good Buy Right Now?
It should be noted that AMPH technical indicators for short, intermediate as well as long term progress have placed an overall average of 40% as Buy. The average signal changed from 8% Buy in the last week and compares with 72% Sell in the past month. Data from Amphastar Pharmaceuticals Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.23 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.21 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.2 million shares.
AMPH Price Performance
On Wall Street, Amphastar Pharmaceuticals Inc. [NASDAQ:AMPH] finished Thursday’s session up 2.74% at $20.65. The stock went up to $20.93 at the same session while its lowest single day price was $19.73. In the last five days, it saw a rise of about 4.03%, Amphastar Pharmaceuticals Inc. shares gained by almost 2.69% since the beginning of the year. However, the share price has dropped to as low as -8.99% below its one year high. On 01/07/21, the company shares recorded $20.93, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $19.67. The company’s shares have inclined by 10.96% in the past year. The 50-day SMA achieved is $19.13 while the 200-day SMA is $19.20. Volume dropped to 0.19 million from 0.38 million in the previous session.
Amphastar Pharmaceuticals Inc. [AMPH] Valuation Measures
Notably, Amphastar Pharmaceuticals Inc. [AMPH] stock cannot be classified as a good candidate in the listing of underestimated low-priced Drug Manufacturers – Specialty & Generic companies to purchase soonest possible with the prevailing 12-month PE ratio of 154.10. The measure means the stock is exchanging at a premium as compared to the 24.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 2.87 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 2.92 which means AMPH serve an unattractive investment opportunity compared to its competitors.
AMPH Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 19.94 level, and in case of violation of this particular level, it will cause more drop to 19.24 level. On the upper level, 21.64 is still the key resistance. The stock may increase to the subsequent resistance at 21.14. The Relative Strength Index (RSI) pinned on the 14-day chart is 68.69, implying a neutral technical stance while the MACD stands at 0.79, meaning price will decrease in the next trading period. Percent R indicator moved to 10.14%, implying bullish price movement. Stochastic %K at 80.06% suggest selling the stock.
What is the short interest in Amphastar Pharmaceuticals Inc.?
Short interest in the Amphastar Pharmaceuticals Inc. stock has surged, increasing by 0.11 million shares to total 2.58 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.69 million, data from Yahoo Finance shows. The decrease of -4.26% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 8.51% of the overall float for the stock.
Amphastar Pharmaceuticals Inc.’s Biggest Shareholders: Who Owns Amphastar Pharmaceuticals Inc. [AMPH]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,013,516 shares or roughly 12.66% of the outstanding AMPH shares. This means their shares have increased by 217,790 from the 6,013,516 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Federated Global Investment Manag updated stake is worth $46,220,986. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 1.00% stake valued at $40,886,735 while Dimensional Fund Advisors LP cut theirs at $32,429,636. During the last quarter, The Vanguard Group, Inc. raised 22,828 of its shares in Amphastar Pharmaceuticals Inc. while Dimensional Fund Advisors LP sold -16,829 shares. The Invesco Capital Management LLC’s holdings currently number 1,350,417 shares at $27886111.05. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 1,290,490 shares, roughly $22,919,102.
AMPH Earnings Forecast For The Current Quarter
Amphastar Pharmaceuticals Inc. [AMPH] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $89.01M and an earnings per share of $0.14 for Dec 2020. Looking further ahead, the company is expected to report revenue of $93.25M at an EPS of $0.17 for Mar 2021. The estimates represent upside of 26.50% and 88.89% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
AMPH Earnings Estimates For The Current Year
For the financial year, Amphastar Pharmaceuticals Inc. [NASDAQ:AMPH] is expected to bring in revenue of $342.5M. The returns are nearly $20.14 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.6, higher than that of FY19 by $0.24. Estimates put this year’s earnings growth at 66.70%, 90.00% for the next, and at an annual 25.00% over the next 5-year period. As for sales, forecasts are for an increase of 6.20% in the current fiscal year and a further 26.50% over the following year.