Amphastar Pharmaceuticals (NASDAQ:AMPH) Issues Earnings Results, Misses Expectations By $0.24 EPS

Amphastar Pharmaceuticals (NASDAQ:AMPH) posted its earnings results on Thursday. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.24), FiscalAI reports. Amphastar Pharmaceuticals had a net margin of 15.43% and a return on equity of 19.70%. The company had revenue of $183.11 million for the quarter, compared to analysts’ expectations of $190.48 million.

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

• FDA approved Ipratropium Bromide HFA (AMP-007)
• BAQSIMI remained a key contributor (2025 revenue $185.4M, +12% YoY); management expects mid-single-digit U.S. unit growth in 2026 while exiting a handful of unprofitable international markets later in the year.
• Full-year revenue was $719.9M (down 2%) as legacy products faced steep pricing pressure — glucagon fell sharply (Q4 -45%) and epinephrine declined — and management expects lower gross margins in 2026.
• Pipeline progress includes three novel peptides and a fully synthetic corticotropin, plus high‑value near/midterm programs (AMP-004 insulin aspart BLA and AMP-018 GLP-1 ANDA) targeting commercialization in 2027, supporting long-term value creation.
• Management is investing to quadruple U.S. manufacturing capacity in Rancho Cucamonga, intends to fund expansion from operations, holds over $300M of cash, and will balance additional buybacks with business‑development opportunities.

Amphastar Pharmaceuticals Trading Down 23.6%

Shares of Amphastar Pharmaceuticals stock traded down $6.26 during trading on Friday, reaching $20.23. The company’s stock had a trading volume of 1,965,411 shares, compared to its average volume of 397,544. The company has a quick ratio of 2.21, a current ratio of 3.12 and a debt-to-equity ratio of 0.78. Amphastar Pharmaceuticals has a 52-week low of $19.83 and a 52-week high of $31.26. The firm’s 50-day moving average is $27.36 and its two-hundred day moving average is $27.06. The company has a market cap of $929.61 million, a price-to-earnings ratio of 8.95, a PEG ratio of 5.10 and a beta of 0.88.

Key Amphastar Pharmaceuticals News

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

• Positive Sentiment: Management expects mid- to high-single-digit revenue growth for 2026 and is launching a new respiratory product, which provides a clear growth runway beyond the quarter that disappointed investors. Amphastar outlines mid- to high-single-digit revenue growth for 2026 while launching new respiratory product
• Positive Sentiment: Two sell-side shops lowered price targets from $34 to $30 but retained constructive ratings (Wells Fargo: overweight; Needham: buy), signaling that analysts still see significant upside from current levels despite trimming near-term assumptions. Analyst price target coverage
• Neutral Sentiment: Company published its Q4 press release, slide deck and conference call materials for investors to review detailed results and management commentary. These materials may clarify margin drivers and product cadence. Press release / slide deck
• Neutral Sentiment: Analyst and media write-ups (Zacks, Seeking Alpha, Investing.com) provide deeper metric-level analysis comparing results to estimates — useful for modeling but not new catalyst by itself. Zacks comparison of key metrics
• Negative Sentiment: Q4 results missed consensus: adjusted EPS of $0.73 vs. ~$0.97 expected and revenue of $183.1M vs. ~$190.5M, prompting investor concern about near-term growth and profit leverage. MarketBeat earnings summary
• Negative Sentiment: Market reaction has been amplified by heavy trading and coverage noting the miss; short-interest reports in public feeds are noisy/unclear but the immediate selloff reflects disappointment with the quarter. Yahoo finance: earnings miss and market reaction

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMPH shares. Needham & Company LLC reduced their price objective on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Friday. Barclays began coverage on shares of Amphastar Pharmaceuticals in a report on Tuesday, December 9th. They issued an “equal weight” rating and a $30.00 price target on the stock. Wells Fargo & Company reduced their target price on Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday. Zacks Research lowered Amphastar Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amphastar Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $29.50.

Insider Transactions at Amphastar Pharmaceuticals

In other news, EVP Rong Zhou sold 9,787 shares of Amphastar Pharmaceuticals stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $26.20, for a total value of $256,419.40. Following the transaction, the executive vice president owned 138,043 shares in the company, valued at approximately $3,616,726.60. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Floyd F. Petersen sold 2,426 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.92, for a total value of $62,881.92. Following the sale, the director owned 71,368 shares of the company’s stock, valued at $1,849,858.56. This represents a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,950 shares of company stock worth $363,925 over the last ninety days. Insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Amphastar Pharmaceuticals by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,799,685 shares of the company’s stock valued at $48,196,000 after acquiring an additional 44,020 shares during the period. State Street Corp grew its stake in shares of Amphastar Pharmaceuticals by 2.1% in the fourth quarter. State Street Corp now owns 1,531,786 shares of the company’s stock worth $41,021,000 after purchasing an additional 31,044 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Amphastar Pharmaceuticals by 3.0% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,394,463 shares of the company’s stock valued at $37,344,000 after purchasing an additional 40,536 shares during the period. Marshall Wace LLP raised its position in Amphastar Pharmaceuticals by 41.6% during the 4th quarter. Marshall Wace LLP now owns 1,237,284 shares of the company’s stock valued at $33,134,000 after purchasing an additional 363,216 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Amphastar Pharmaceuticals by 12.7% in the 3rd quarter. Millennium Management LLC now owns 697,765 shares of the company’s stock worth $18,595,000 after buying an additional 78,781 shares during the period. 65.09% of the stock is currently owned by institutional investors.

Amphastar Pharmaceuticals Company Profile

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.

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