Amphastar Pharmaceuticals (NASDAQ:AMPH) Announces Quarterly 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. Amphastar Pharmaceuticals had a return on equity of 15.11% and a net margin of 11.00%.The firm had revenue of $171.17 million for the quarter, compared to analyst estimates of $173.46 million.

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 Price Performance

AMPH traded down $5.03 during trading on Friday, reaching $19.00. 1,983,804 shares of the stock were exchanged, compared to its average volume of 409,713. Amphastar Pharmaceuticals has a 1 year low of $17.03 and a 1 year high of $31.26. The company has a market capitalization 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. The business’s 50 day moving average price is $20.80 and its two-hundred day moving average price is $24.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.02 and a quick ratio of 2.90.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Tuesday, April 21st. Weiss Ratings cut Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Barclays decreased their price objective on Amphastar Pharmaceuticals from $30.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Wells Fargo & Company lowered 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 report on Friday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Friday. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Amphastar Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $27.43.

Trending Headlines about Amphastar Pharmaceuticals

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

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC boosted its stake in shares of Amphastar Pharmaceuticals by 2.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 19,397 shares of the company’s stock worth $478,000 after purchasing an additional 459 shares during the last quarter. Advisory Research Inc. raised its position in shares of Amphastar Pharmaceuticals by 3.8% in the third quarter. Advisory Research Inc. now owns 15,468 shares of the company’s stock valued at $412,000 after buying an additional 570 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Amphastar Pharmaceuticals by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,489 shares of the company’s stock valued at $652,000 after buying an additional 613 shares during the period. Janney Montgomery Scott LLC lifted its stake 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 period. Finally, Commonwealth Equity Services LLC boosted its position in Amphastar Pharmaceuticals by 11.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,742 shares of the company’s stock worth $234,000 after acquiring an additional 882 shares during the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.

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.