Fri Sep 20 06:43:23 UTC 2024: ## Amphastar Pharmaceuticals Receives “Buy” Rating from StockNews.com

**New York, NY – September 20, 2024** – Amphastar Pharmaceuticals (NASDAQ: AMPH) has been upgraded to a “buy” rating from a “hold” rating by investment analysts at StockNews.com, according to a research note released on Friday. This positive outlook comes amidst a mixed bag of analyst sentiments regarding the biopharmaceutical company.

While Needham & Company LLC maintained a “hold” rating on Amphastar Pharmaceuticals, Piper Sandler lowered their price target from $71.00 to $66.00 while retaining an “overweight” rating. Overall, the company currently has a “Moderate Buy” rating with an average price target of $63.00, based on data from MarketBeat.com.

Amphastar Pharmaceuticals recently announced strong quarterly earnings, exceeding analyst expectations with earnings per share of $0.85, surpassing the consensus estimate of $0.75 by $0.10. Revenue also surpassed estimates, reaching $182.39 million against an anticipated $171.29 million.

However, insider trading activity has shown some mixed signals. EVP Rong Zhou sold 4,000 shares of the company’s stock on August 26th, followed by Director Floyd F. Petersen selling 3,000 shares on September 5th.

Despite these insider transactions, institutional investors continue to show interest in Amphastar Pharmaceuticals. Charles Schwab Investment Management Inc. increased its position in the company by 7.7%, while Principal Securities Inc. and Janney Montgomery Scott LLC acquired new stakes.

Amphastar Pharmaceuticals specializes in the development, manufacturing, and marketing of generic and proprietary injectable, inhalation, and intranasal products across the US, China, and France. Their portfolio includes notable products like BAQSIMI, Primatene Mist, Enoxaparin, REXTOVY, and Naloxone.

The upgrade from StockNews.com signifies a potential shift in market sentiment regarding Amphastar Pharmaceuticals. Investors are encouraged to monitor future developments and analyst reports to gain a comprehensive understanding of the company’s prospects.

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