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Strength Seen in Amphastar (AMPH): Can Its 6.4% Jump Turn into More Strength?
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Amphastar Pharmaceuticals (AMPH - Free Report) shares rallied 6.4% in the last trading session to close at $41.87. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.9% gain over the past four weeks.
Investors are most likley upbeat about the recent positive updates. Last month, the FDA granted approval to naloxone hydrochloride nasal spray 4mg, which is delivered utilizing the company's proprietary nasal delivery device. Amphastar currently has three ANDAs on file with the FDA targeting products with a market size of over $3 billion, three biosimilar products in development targeting products with a market size of over $11 billion, and six generic products in development targeting products with a market size of over $9 billion.
This specialty pharmaceutical company is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of -8.5%. Revenues are expected to be $129.95 million, up 8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Amphastar, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMPH going forward to see if this recent jump can turn into more strength down the road.
Amphastar is a member of the Zacks Medical - Generic Drugs industry. One other stock in the same industry, Doctor Reddy's (RDY - Free Report) , finished the last trading session 0.4% higher at $60.28. RDY has returned 12.5% over the past month.
Doctor Reddy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago EPS, this represents a change of +11.3%. Doctor Reddy's currently boasts a Zacks Rank of #2 (Buy).
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Strength Seen in Amphastar (AMPH): Can Its 6.4% Jump Turn into More Strength?
Amphastar Pharmaceuticals (AMPH - Free Report) shares rallied 6.4% in the last trading session to close at $41.87. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.9% gain over the past four weeks.
Investors are most likley upbeat about the recent positive updates. Last month, the FDA granted approval to naloxone hydrochloride nasal spray 4mg, which is delivered utilizing the company's proprietary nasal delivery device. Amphastar currently has three ANDAs on file with the FDA targeting products with a market size of over $3 billion, three biosimilar products in development targeting products with a market size of over $11 billion, and six generic products in development targeting products with a market size of over $9 billion.
This specialty pharmaceutical company is expected to post quarterly earnings of $0.43 per share in its upcoming report, which represents a year-over-year change of -8.5%. Revenues are expected to be $129.95 million, up 8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Amphastar, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMPH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Amphastar is a member of the Zacks Medical - Generic Drugs industry. One other stock in the same industry, Doctor Reddy's (RDY - Free Report) , finished the last trading session 0.4% higher at $60.28. RDY has returned 12.5% over the past month.
Doctor Reddy's' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago EPS, this represents a change of +11.3%. Doctor Reddy's currently boasts a Zacks Rank of #2 (Buy).