Amphastar Pharmaceuticals (NASDAQ:AMPH) Issues Earnings Results

Amphastar Pharmaceuticals (NASDAQ:AMPH) issued its earnings results on Thursday. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.28), FiscalAI reports. The company had revenue of $171.17 million during the quarter, compared to the consensus estimate of $173.46 million. Amphastar Pharmaceuticals had a return on equity of 15.11% and a net margin of 11.00%.

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

• Q1 results showed revenue of $171.2M (slight increase) but net income fell to $6.4M ($0.14/share) from $25.3M last year, with adjusted earnings also down materially due to lower selling prices, margin headwinds and higher costs.
• BAQSIMI revenue declined 15% to $32.4M driven by lower average selling prices from higher rebates and suspected 340B duplicate discounts; management has engaged a third party to validate duplicates, implemented a 3% list-price increase, and now expects BAQSIMI growth to be flat to low-single digits for 2026.
• Commercial momentum was supported by recent launches and strong brands — Primatene MIST (~$29.8M) with ~6.5% store-level growth, Other finished-product sales rose 34% to $67.1M from new launches, and the company launched AMP-007 (ipratropium inhalation) in April as the first/only generic on the market.
• The pipeline remains a strategic focus with the insulin aspart biosimilar and GLP-1 ANDA still on track for 2027 commercialization and early-stage proprietary oncology/immunology programs advancing, though R&D spend rose 33% as investment continues.
• Financial flexibility is strong — operating cash flow was ~$47.8M and the company repurchased $29.5M of stock (~3% of shares) in Q1, and management says the balance sheet supports continued internal R&D and selective M&A while maintaining mid- to high-single-digit unit growth guidance for 2026.

Amphastar Pharmaceuticals Stock Down 20.9%

Shares of NASDAQ AMPH traded down $5.03 during midday trading on Friday, reaching $19.00. 1,983,804 shares of the company’s stock traded hands, compared to its average volume of 409,713. The company has a quick ratio of 2.90, a current ratio of 4.02 and a debt-to-equity ratio of 0.77. The stock’s 50 day simple moving average is $20.80 and its 200-day simple moving average is $24.57. Amphastar Pharmaceuticals has a one year low of $17.03 and a one year high of $31.26. The company has a market cap of $846.07 million, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.94 and a beta of 0.97.

Analyst Ratings Changes

AMPH has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their target price on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday. Jefferies Financial Group restated a “hold” rating and issued a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research note on Tuesday, April 21st. Weiss Ratings downgraded shares of Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Finally, Barclays dropped their target price on shares of Amphastar Pharmaceuticals from $30.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amphastar Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $27.43.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of AMPH. Quarry LP bought a new position in shares of Amphastar Pharmaceuticals during the third quarter valued at approximately $32,000. Quadrant Capital Group LLC bought a new position in shares of Amphastar Pharmaceuticals during the third quarter valued at approximately $82,000. Tower Research Capital LLC TRC boosted its stake in shares of Amphastar Pharmaceuticals by 263.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,583 shares of the company’s stock valued at $82,000 after purchasing an additional 2,596 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Amphastar Pharmaceuticals by 55.6% in the second quarter. Canada Pension Plan Investment Board now owns 4,200 shares of the company’s stock valued at $96,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Corient IA LLC acquired a new stake in Amphastar Pharmaceuticals in the fourth quarter valued at approximately $201,000. 65.09% of the stock is currently owned by institutional investors.

More Amphastar Pharmaceuticals News

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

• Negative Sentiment: Amphastar reported adjusted earnings of $0.42 per share on revenue of $171.2 million, missing analyst estimates of about $0.70 EPS and $173.5 million in sales, which is the main reason the stock is moving lower. Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended March 31, 2026
• Negative Sentiment: The company’s GAAP net income was $6.4 million, or $0.14 per share, highlighting weaker bottom-line performance than the adjusted figures suggest. Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended March 31, 2026
• Neutral Sentiment: Needham & Company reaffirmed its hold rating, suggesting analysts are cautious but not turning more bearish after the results.
• Neutral Sentiment: Management also said BAQSIMI revenue is expected to be flat to up low-single-digits, with a 3% list price increase, offering some stability in a key product line. Amphastar forecasts BAQSIMI revenue flat to up low single digits, with 3% list price increase

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.