Wednesday, March 13, 2019 7:26:44 PM
Amphastar downgraded to Hold from Buy at Needham
Needham analyst Serge Belanger downgraded Amphastar to Hold after its Q4 results, saying that after a "strong string of new products" drove the beat in the quarter, the company's cadence for new product growth is set to slow in 2019. The analyst cites Amphastar anticipating "only one significant Abbreviated New Drug Application product" expected by the end of 2019 as well as its forecast for a "significant increase" in R&D spending as it looks to "restock its high-value pipelines".
Amphastar downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst David Amsellem downgraded Amphastar Pharmaceuticals to Neutral from Overweight and lowered his price target for the shares to $23 from $24. At current valuation levels, the shares are reflecting significant contribution from Primatene Mist and new generic launches, Amsellem tells investors in a research note. He views the valuation as a "bit rich" and is taking a "more cautious view."
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