Piper Jaffray Believes Amphastar Pharmaceuticals (NASDAQ: AMPH) Still Has Room to Grow

By Ryan Adsit

Piper Jaffray analyst David Amsellem reiterated a Buy rating on Amphastar Pharmaceuticals (NASDAQ: AMPH) yesterday and set a price target of $26. The company’s shares closed yesterday at $18.92, close to its 52-week high of $19.95.

According to TipRanks.com, Amsellem is ranked 0 out of 5 stars with an average return of -2.2% and a 44.2% success rate. Amsellem covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Collegium Pharmaceutical, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Amphastar Pharmaceuticals is Strong Buy and the average price target is $24.50, representing a 29.5% upside.

In a report issued on January 26, Wells Fargo also maintained a Buy rating on the stock.

Based on Amphastar Pharmaceuticals’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $57.92 million and quarterly net profit of $175K. In comparison, last year the company earned revenue of $63.54 million and had a GAAP net loss of $2.74 million.

Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.

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