Jefferies Reaffirms Their Buy Rating on Amphastar Pharmaceuticals

By Jason Carr

Jefferies analyst David Steinberg reiterated a Buy rating on Amphastar Pharmaceuticals (NASDAQ: AMPH) yesterday and set a price target of $19. The company’s shares closed yesterday at $14.89.

According to TipRanks.com, Steinberg is a 4-star analyst with an average return of 5.3% and a 45.7% success rate. Steinberg covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Supernus Pharmaceuticals, and Collegium Pharmaceutical.

Currently, the analyst consensus on Amphastar Pharmaceuticals is Strong Buy and the average price target is $18, representing a 20.9% upside.

In a report issued on July 28, Piper Jaffray also reiterated a Buy rating on the stock with a $20 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 54 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2017, Richard Prins, a Director at AMPH sold 10,000 shares for a total of $170,700.

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.