Amphastar Pharma(AMPH): Outlook Hinges on Primatene and a Key ANDA Approval - Jefferies
- Techs buoy S&P, Nasdaq; Goldman pushes Dow to record high
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- Oil hits 16-month high in buying rush after OPEC agreement
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Berkshire Hathaway (BRK-A) Book Value Could Be Boosted by $29B from Trump Tax Plan - Analyst
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies analyst, David Steinberg, reiterated his Buy rating on shares of Amphastar Pharmaceuticals (NASDAQ: AMPH) and raised the price target to $21 after revs of $64M were $5M ahead of expectations and better than expected gross margin drove Q3 EPS out performance ($0.14 vs -$0.20 JEF).
Q3 revs benefited from higher than projected nonrecurring insulin API sales to MNKD and the analyst expects the approvals of Primatene and an undisclosed ANDA product as key to AMPH’s FY17 outlook.
The PT increased to $21 from $19 on 2.7x EV/S applied to FY17 revenue of $340M.
Shares of Amphastar Pharmaceuticals closed at $17.63 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Credit Suisse Upgrades National Beverage (FIZZ) to Outperform
- Mizuho Securities Raises Price Target on PDC Energy (PDCE) to $81; Reiterates Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!