Amphastar Pharmaceuticals (NASDAQ:AMPH) Posts Quarterly Earnings Results

Amphastar Pharmaceuticals (NASDAQ:AMPH) posted its quarterly earnings data on Thursday. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations 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

Shares of AMPH traded down $5.03 during trading hours on Friday, hitting $19.00. The stock had a trading volume of 1,983,804 shares, compared to its average volume of 409,713. The company’s fifty day moving average is $20.80 and its two-hundred day moving average 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. Amphastar Pharmaceuticals has a 52 week low of $17.03 and a 52 week high of $31.26. The stock 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMPH. Barclays reduced their price target 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Wells Fargo & Company lowered their price target on Amphastar Pharmaceuticals from $34.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Weiss Ratings cut shares of Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, April 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a research note on Friday. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.43.

Institutional Trading of Amphastar Pharmaceuticals

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

Key Headlines Impacting 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

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.