Amphastar Pharmaceuticals Receives a Buy from Piper Jaffray

By Carrie Williams

In a report issued on September 15, David Amsellem from Piper Jaffray reiterated a Buy rating on Amphastar Pharmaceuticals (NASDAQ: AMPH), with a price target of $19. The company’s shares closed on Friday at $15.73.

According to TipRanks.com, Amsellem is a 1-star analyst with an average return of -0.9% and a 46.7% success rate. Amsellem covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Supernus Pharmaceuticals.

Currently, the analyst consensus on Amphastar Pharmaceuticals is Strong Buy and the average price target is $18, representing a 14.4% upside.

In a report issued on September 15, Needham also reiterated a Buy rating on the stock with a $18 price target.

Based on Amphastar Pharmaceuticals’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $65.19 million and quarterly net profit of $1.97 million. In comparison, last year the company earned revenue of $68.03 million and had a net profit of $6.9 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Last month, Richard Prins, a Director at AMPH sold 10,000 shares for a total of $148,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.