Amphastar Pharmaceuticals (AMPH) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Amphastar Pharmaceuticals (AMPH) closed at $61.38, marking a -0.44% move from the previous day. This change lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Coming into today, shares of the specialty pharmaceutical company had gained 9.81% in the past month. In that same time, the Medical sector lost 0.13%, while the S&P 500 gained 5.14%.
Investors will be hoping for strength from Amphastar Pharmaceuticals as it approaches its next earnings release. On that day, Amphastar Pharmaceuticals is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 46.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $137.2 million, up 11.12% from the year-ago period.
AMPH's full-year Zacks Consensus Estimates are calling for earnings of $2.69 per share and revenue of $605.68 million. These results would represent year-over-year changes of +36.55% and +21.38%, respectively.
It is also important to note the recent changes to analyst estimates for Amphastar Pharmaceuticals. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 11.93% higher. Amphastar Pharmaceuticals is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Amphastar Pharmaceuticals's current valuation metrics, including its Forward P/E ratio of 22.96. Its industry sports an average Forward P/E of 19.37, so we one might conclude that Amphastar Pharmaceuticals is trading at a premium comparatively.
The Medical - Generic Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Amphastar Pharmaceuticals, Inc. (AMPH) : Free Stock Analysis Report
