Amphastar Pharmaceuticals (NASDAQ:AMPH) Posts Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Amphastar Pharmaceuticals (NASDAQ:AMPH) released its quarterly earnings results on Thursday. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29, FiscalAI reports. The company had revenue of $183.90 million during the quarter, compared to the consensus estimate of $179.92 million. Amphastar Pharmaceuticals had a net margin of 11.00% and a return on equity of 15.12%.

Here are the key takeaways from Amphastar Pharmaceuticals’ conference call:

• Second-quarter revenue rose 5% year over year to $183.9 million, with gross margin improving to 51% as recently launched products, including ipratropium bromide, teriparatide, and iron sucrose, contributed higher-margin sales. Management maintained its 2026 corporate sales-growth outlook of mid-single-digit to high-single-digit growth.
• Ipratropium bromide launched successfully in April, generating $8.4 million in quarterly sales, and management said the product is approaching its targeted 50%–80% market-share range. BAQSIMI prescriptions also increased 17% year over year, and the product exceeded its annual sales milestone, triggering a $100 million payment to Eli Lilly.
• IMS received an FDA warning letter and expects an additional $2 million to $3 million per quarter in remediation expenses for the next several quarters, along with somewhat slower sales and possible production delays. Management does not currently expect a material impact on overall operations and said manufacturing and distribution are continuing.
• Glucagon sales fell 42% year over year to $11.9 million because of intensified competition; management expects the decline to moderate but does not anticipate the product returning to growth. BAQSIMI sales also declined 3% because of lower pricing, rebates, and 340B discounts despite higher prescription volumes.
• The company advanced several pipeline programs, including initiating a Phase I trial for AMP-101 epinephrine nasal spray and continuing preparations for its insulin aspart biosimilar, which remains on track for a potential 2027 launch subject to approval. Amphastar also repurchased approximately $45 million of shares during the quarter.

Amphastar Pharmaceuticals Price Performance

Shares of Amphastar Pharmaceuticals stock traded up $0.97 during midday trading on Friday, hitting $20.78. 1,299,880 shares of the company traded hands, compared to its average volume of 532,523. The firm’s fifty day moving average price is $19.63 and its 200-day moving average price is $21.40. The stock has a market cap of $916.19 million, a price-to-earnings ratio of 12.52, a PEG ratio of 4.27 and a beta of 0.89. Amphastar Pharmaceuticals has a 12 month low of $16.65 and a 12 month high of $31.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AMPH shares. Bank of America reaffirmed an “underperform” rating and issued a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, June 29th. Piper Sandler cut their price objective on shares of Amphastar Pharmaceuticals from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday. Barclays reduced their price objective on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 3rd. Jefferies Financial Group restated a “hold” rating and issued a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Amphastar Pharmaceuticals in a report on Wednesday, July 8th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $22.00.

Institutional Trading of Amphastar Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of AMPH. Invesco Ltd. lifted its stake in shares of Amphastar Pharmaceuticals by 28.7% in the 4th quarter. Invesco Ltd. now owns 501,404 shares of the company’s stock valued at $13,428,000 after acquiring an additional 111,811 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Amphastar Pharmaceuticals by 10.7% during the fourth quarter. Vident Advisory LLC now owns 20,409 shares of the company’s stock worth $547,000 after purchasing an additional 1,978 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Amphastar Pharmaceuticals by 3.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,394,463 shares of the company’s stock worth $37,344,000 after purchasing an additional 40,536 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Amphastar Pharmaceuticals by 10.8% in the fourth quarter. Empowered Funds LLC now owns 165,907 shares of the company’s stock valued at $4,443,000 after buying an additional 16,112 shares during the period. Finally, XTX Topco Ltd bought a new position in Amphastar Pharmaceuticals in the 4th quarter valued at approximately $1,302,000. Institutional investors own 65.09% of the company’s stock.

Key Amphastar Pharmaceuticals News

Here are the key news stories impacting Amphastar Pharmaceuticals this week:

• Positive Sentiment: Amphastar reported second-quarter revenue of $183.9 million, exceeding analysts’ approximately $179.9 million estimate. Adjusted earnings were $0.91 per share, well above consensus estimates ranging from $0.62 to $0.66 and up from $0.85 a year earlier. GAAP net income totaled $30.3 million, or $0.67 per share, while adjusted net income was $40.8 million. Amphastar Pharmaceuticals Reports Financial Results for the Three Months Ended June 30, 2026
• Positive Sentiment: The earnings beat was broad enough to attract attention from analysts, with coverage highlighting stronger-than-expected revenue, EPS and other key quarterly metrics. The results provide a positive near-term catalyst for AMPH and help support its valuation despite the stock remaining below its 200-day moving average. Amphastar Pharmaceuticals Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: Wells Fargo raised its price target from $19 to $20 but maintained an “equal weight” rating. The revised target remains below the recent trading level, signaling limited perceived upside despite the earnings performance. Wells Fargo price-target update
• Negative Sentiment: Piper Sandler lowered its price target from $21 to $20 and assigned a “neutral” rating. The downgrade in target suggests analysts remain cautious about AMPH’s outlook and could temper the positive reaction to the quarterly beat. Piper Sandler price-target update

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.