Analyst Jason Gerberry of Bank of America Securities reiterated a Hold rating on Amphastar Pharmaceuticals (AMPH – Research Report), reducing the price target to $29.00.
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Jason Gerberry’s rating is based on a combination of factors, including Amphastar Pharmaceuticals’ recent financial performance and future prospects. The company’s first-quarter results were in line with expectations but fell short of broader market forecasts, primarily due to seasonal weaknesses in key products like Baqsimi and Primatene Mist. Despite these challenges, there are early indications of potential growth in the second half of the year, supported by a new promotional partnership.
Moreover, while Amphastar remains optimistic about its pipeline, including products like AMP-002 and AMP-007, there is a need for further clarity on the progress of these developments. The company’s track record in securing approvals has been mixed, which adds an element of caution to the outlook. As a result, Gerberry maintains a Neutral stance, reflecting a balanced view of the risks and rewards associated with Amphastar’s stock, and has adjusted the price objective to $29 per share based on revised financial projections.
Gerberry covers the Healthcare sector, focusing on stocks such as Jazz Pharmaceuticals, Axsome Therapeutics, and Teva Pharmaceutical. According to TipRanks, Gerberry has an average return of 3.3% and a 50.51% success rate on recommended stocks.
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