Amphastar Pharmaceuticals' stock plummeted 15.29% at the open on Friday, extending a sharp decline from the previous session.
The sell-off was triggered by the company's fourth-quarter financial results, which missed analyst expectations for both earnings per share and revenue. Adding to the negative sentiment, Jefferies cut its price target on the stock to $30 from $38.
The combination of disappointing earnings performance and the analyst downgrade prompted the substantial intraday decline as investors reassessed the company's near-term prospects.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments