Amphastar Pharmaceuticals (NASDAQ:AMPH) Posts Earnings Results, Beats Expectations By $0.29 EPS

Amphastar Pharmaceuticals (NASDAQ:AMPH) posted its quarterly earnings results on Thursday. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29, FiscalAI reports. Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%.The company had revenue of $183.90 million during the quarter, compared to the consensus estimate of $179.92 million.

Here are the key takeaways from Amphastar Pharmaceuticals’ conference call:

• Second-quarter revenue rose 5% year over year to $183.9 million, with gross margin improving to 51% as recently launched products, including ipratropium bromide, teriparatide, and iron sucrose, contributed higher-margin sales. Management maintained its 2026 corporate sales-growth outlook of mid-single-digit to high-single-digit growth.
• Ipratropium bromide launched successfully in April, generating $8.4 million in quarterly sales, and management said the product is approaching its targeted 50%–80% market-share range. BAQSIMI prescriptions also increased 17% year over year, and the product exceeded its annual sales milestone, triggering a $100 million payment to Eli Lilly.
• IMS received an FDA warning letter and expects an additional $2 million to $3 million per quarter in remediation expenses for the next several quarters, along with somewhat slower sales and possible production delays. Management does not currently expect a material impact on overall operations and said manufacturing and distribution are continuing.
• Glucagon sales fell 42% year over year to $11.9 million because of intensified competition; management expects the decline to moderate but does not anticipate the product returning to growth. BAQSIMI sales also declined 3% because of lower pricing, rebates, and 340B discounts despite higher prescription volumes.
• The company advanced several pipeline programs, including initiating a Phase I trial for AMP-101 epinephrine nasal spray and continuing preparations for its insulin aspart biosimilar, which remains on track for a potential 2027 launch subject to approval. Amphastar also repurchased approximately $45 million of shares during the quarter.

Amphastar Pharmaceuticals Stock Performance

AMPH traded up $0.97 during midday trading on Friday, reaching $20.78. The company’s stock had a trading volume of 1,299,880 shares, compared to its average volume of 532,523. The stock has a market cap of $916.19 million, a P/E ratio of 12.52, a PEG ratio of 4.27 and a beta of 0.89. The company has a fifty day simple moving average of $19.63 and a 200 day simple moving average of $21.40. The company has a current ratio of 3.85, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. Amphastar Pharmaceuticals has a twelve month low of $16.65 and a twelve month high of $31.26.

Wall Street Analysts Forecast Growth

AMPH has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, July 8th. Bank of America restated an “underperform” rating and issued a $20.00 target price (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, June 29th. Barclays decreased their target price on Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 3rd. Wells Fargo & Company increased their price target on Amphastar Pharmaceuticals from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Zacks Research raised shares of Amphastar Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Six analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Amphastar Pharmaceuticals presently has a consensus rating of “Reduce” and an average price target of $22.00.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rafferty Asset Management LLC acquired a new position in Amphastar Pharmaceuticals during the 4th quarter valued at $206,000. Commonwealth Equity Services LLC raised its position in shares of Amphastar Pharmaceuticals by 11.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,742 shares of the company’s stock valued at $234,000 after buying an additional 882 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Amphastar Pharmaceuticals by 6.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,230 shares of the company’s stock valued at $381,000 after buying an additional 825 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Amphastar Pharmaceuticals in the third quarter valued at about $254,000. Finally, PDT Partners LLC bought a new stake in shares of Amphastar Pharmaceuticals in the second quarter valued at about $336,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

Key Amphastar Pharmaceuticals News

Here are the key news stories impacting Amphastar Pharmaceuticals this week:

• Positive Sentiment: Amphastar reported second-quarter revenue of $183.9 million, exceeding analysts’ approximately $179.9 million estimate. Adjusted earnings were $0.91 per share, well above consensus estimates ranging from $0.62 to $0.66 and up from $0.85 a year earlier. GAAP net income totaled $30.3 million, or $0.67 per share, while adjusted net income was $40.8 million. Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended June 30, 2026
• Positive Sentiment: The earnings beat was broad enough to attract attention from analysts, with coverage highlighting stronger-than-expected revenue, EPS and other key quarterly metrics. The results provide a positive near-term catalyst for AMPH and help support its valuation despite the stock remaining below its 200-day moving average. Amphastar Pharmaceuticals Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: Wells Fargo raised its price target from $19 to $20 but maintained an “equal weight” rating. The revised target remains below the recent trading level, signaling limited perceived upside despite the earnings performance. Wells Fargo price-target update
• Negative Sentiment: Piper Sandler lowered its price target from $21 to $20 and assigned a “neutral” rating. The downgrade in target suggests analysts remain cautious about AMPH’s outlook and could temper the positive reaction to the quarterly beat. Piper Sandler price-target update

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company’s manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar’s portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.