Amphastar Pharmaceuticals (NASDAQ:AMPH) Announces Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Amphastar Pharmaceuticals (NASDAQ:AMPH) announced its quarterly earnings results on Thursday. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.24), FiscalAI reports. Amphastar Pharmaceuticals had a net margin of 13.63% and a return on equity of 17.74%. The company had revenue of $183.11 million during the quarter, compared to the consensus estimate 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 Stock Down 23.6%

NASDAQ AMPH traded down $6.26 during trading on Friday, reaching $20.23. 1,965,411 shares of the company’s stock traded hands, compared to its average volume of 368,258. Amphastar Pharmaceuticals has a 12-month low of $19.83 and a 12-month high of $31.26. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.12 and a quick ratio of 2.21. The firm has a market cap of $929.57 million, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 4.83 and a beta of 0.88. The company’s 50 day simple moving average is $27.23 and its two-hundred day simple moving average is $27.01.

Analysts Set New Price Targets

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

Trending Headlines about Amphastar Pharmaceuticals

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

Insider Buying and Selling

In related news, Director Floyd F. Petersen sold 2,426 shares of the business’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 value of $62,881.92. Following the completion of the transaction, the director owned 71,368 shares of the company’s stock, valued at $1,849,858.56. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rong Zhou sold 9,787 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $26.20, for a total value of $256,419.40. Following the sale, the executive vice president owned 138,043 shares of the company’s stock, valued at approximately $3,616,726.60. This represents a 6.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,950 shares of company stock worth $363,925. Insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On Amphastar Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in AMPH. AQR Capital Management LLC boosted its holdings in shares of Amphastar Pharmaceuticals by 82.0% in the 1st quarter. AQR Capital Management LLC now owns 53,638 shares of the company’s stock valued at $1,555,000 after buying an additional 24,167 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Amphastar Pharmaceuticals by 2.8% in the first 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 in the last quarter. Intech Investment Management LLC grew its holdings in Amphastar Pharmaceuticals by 43.0% in the first quarter. Intech Investment Management LLC now owns 60,289 shares of the company’s stock worth $1,748,000 after purchasing an additional 18,133 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Amphastar Pharmaceuticals during the second quarter worth $1,865,000. Finally, Invesco Ltd. lifted its holdings in shares of Amphastar Pharmaceuticals by 7.7% during the 2nd 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 last quarter. 65.09% of the stock is currently owned by institutional investors.

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.

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