Amphastar Pharmaceuticals (NASDAQ:AMPH) Announces Quarterly Earnings Results

Amphastar Pharmaceuticals (NASDAQ:AMPH) released its quarterly earnings results 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. The company had revenue of $171.17 million for the quarter, compared to analysts’ expectations 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 Trading Down 20.9%

Amphastar Pharmaceuticals stock traded down $5.03 during midday trading on Friday, reaching $19.00. The stock had a trading volume of 1,983,804 shares, compared to its average volume of 409,713. Amphastar Pharmaceuticals has a twelve month low of $17.03 and a twelve month high of $31.26. The stock has a market capitalization of $846.07 million, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.94 and a beta of 0.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.90 and a current ratio of 4.02. The stock’s 50-day simple moving average is $20.80 and its 200 day simple moving average is $24.57.

Analyst Ratings Changes

Several research firms have recently issued reports on AMPH. Needham & Company LLC restated a “hold” rating on shares of Amphastar Pharmaceuticals in a report on Friday. 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, February 27th. Jefferies Financial Group restated a “hold” rating and set a $22.00 price objective (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Tuesday, April 21st. Barclays decreased their price objective on Amphastar Pharmaceuticals from $30.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Finally, Weiss Ratings cut Amphastar Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amphastar Pharmaceuticals has a consensus rating of “Hold” and an average price target of $27.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Amphastar Pharmaceuticals in the third quarter valued at $32,000. Quadrant Capital Group LLC acquired a new position in Amphastar Pharmaceuticals in the third quarter valued at $82,000. Tower Research Capital LLC TRC boosted its holdings in Amphastar Pharmaceuticals by 263.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,583 shares of the company’s stock valued at $82,000 after acquiring an additional 2,596 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings 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 during the last quarter. Finally, Corient IA LLC acquired a new position in Amphastar Pharmaceuticals in the fourth quarter valued at $201,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

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.