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

Amphastar Pharmaceuticals (NASDAQ:AMPH) issued its earnings results on Thursday. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.24), FiscalAI reports. Amphastar Pharmaceuticals had a return on equity of 19.70% and a net margin of 15.43%.The company had revenue of $183.11 million for the quarter, compared to analyst estimates 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 NASDAQ AMPH traded down $6.26 during midday trading on Friday, reaching $20.23. 1,965,411 shares of the stock were exchanged, compared to its average volume of 397,542. The company has a market capitalization of $929.61 million, a P/E ratio of 8.95, a P/E/G ratio of 5.10 and a beta of 0.88. Amphastar Pharmaceuticals has a 52-week low of $19.83 and a 52-week high of $31.26. The company has a current ratio of 3.12, a quick ratio of 2.21 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average price of $27.36 and a 200-day moving average price of $27.06.

Insider Activity at Amphastar Pharmaceuticals

In related news, Director Floyd F. Petersen sold 2,426 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.92, for a total transaction of $62,881.92. Following the sale, the director owned 71,368 shares in the company, valued at approximately $1,849,858.56. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rong Zhou sold 9,787 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $26.20, for a total transaction of $256,419.40. Following the completion of the sale, the executive vice president directly owned 138,043 shares of the company’s stock, valued at $3,616,726.60. The trade was a 6.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,950 shares of company stock worth $363,925 in the last three months. Insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Amphastar Pharmaceuticals by 82.0% during the first quarter. AQR Capital Management LLC now owns 53,638 shares of the company’s stock worth $1,555,000 after buying an additional 24,167 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Amphastar Pharmaceuticals by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,489 shares of the company’s stock valued at $652,000 after acquiring an additional 613 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Amphastar Pharmaceuticals by 43.0% during the 1st quarter. Intech Investment Management LLC now owns 60,289 shares of the company’s stock worth $1,748,000 after acquiring an additional 18,133 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Amphastar Pharmaceuticals in the second quarter worth approximately $1,865,000. Finally, Invesco Ltd. grew its holdings in Amphastar Pharmaceuticals by 7.7% in the second quarter. Invesco Ltd. now owns 386,971 shares of the company’s stock valued at $8,885,000 after purchasing an additional 27,828 shares during the period. 65.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on AMPH shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Amphastar Pharmaceuticals in a report on Monday, December 29th. Needham & Company LLC decreased their price objective on shares of Amphastar Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. Zacks Research downgraded shares of Amphastar Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Barclays assumed coverage on shares of Amphastar Pharmaceuticals in a research report on Tuesday, December 9th. They set an “equal weight” rating and a $30.00 target price for the company. Finally, Wells Fargo & Company lowered their price target 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. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.50.

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

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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