JPMorgan Downgrades Amphastar Pharmaceuticals (AMPH) to Neutral from Overweight, Brings PT Down to $30

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) is one of the 13 Cheap Healthcare Stocks with Huge Upside Potential. On May 12, JPMorgan downgraded Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) to Neutral from Overweight, while also reducing the price target to $30 from $45.

The analyst told investors in a research note that the company has continually experienced setbacks on the pipeline front, which has contributed to the rating downgrade.

Is Amphastar Pharmaceuticals, Inc. (AMPH) the Best Pharma Stock to Buy for Long Term Growth?

A close-up of a woman’s hand syringe containing a bio-pharmaceutical drug.

The firm also stated that while Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) has a better-positioned generic business when compared with some of its peers, both epinephrine and glucagon are deteriorating faster than expected by the Street.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) develops, manufactures, markets, and sells technically challenging generic and proprietary injectable, intranasal, inhalation, and insulin active pharmaceutical ingredients. The company’s operations are divided into the Finished Pharmaceutical Products and Active Pharmaceutical Ingredients Products segments.

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Disclosure: None. This article is originally published at Insider Monkey.