Amphastar Pharma jumps to record high on upbeat results, PT hikes

Amphastar Pharmaceuticals,

11/03/2022 17:32

** Drugmaker's shares  AMPH.O  surge 13.5% to a record high
of $34.59 in its third straight session of gains
    ** Stock among top pct gainers on the Nasdaq Biotechnology
Index  .NBI  
    ** Co reports quarterly adjusted profit of 42 cents/share,
beating estimates of 36 cents for the second time in a row (https://bit.ly/3pXDtGX)
 
    ** AMPH reports Q4 revenue of $120.9 million, above
analysts' expectations of $111.6 million - Refinitiv 
    ** AMPH beats revenue estimates for fourth straight quarter 
    ** End-2021 cash, equivalents of $126.4 million, says co  
    ** Piper Sandler and Northland Capital raise PT on stock to
$35 and $33, respectively
    ** Northland Capital says AMPH continues to be a reliable
supplier of key injectable products, estimates $60 million
revenue in 2022 from new product launches 
    ** Three of six brokerages rate the stock "buy" or higher,
remaining three rate it "hold"; their median PT is $33
    ** In 2021, AMPH rose ~16% compared to a 0.6% fall in  .NBI 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))