Needham analyst Serge Belanger maintained a Buy rating on Amphastar Pharmaceuticals today and set a price target of $34.00.
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Serge Belanger has given his Buy rating due to a combination of factors that highlight Amphastar Pharmaceuticals’ strong performance and future potential. The company’s third-quarter results exceeded expectations, with revenues reaching $191.8 million, driven by robust sales of Baqsimi and Primatene Mist. This performance surpassed the anticipated $186.2 million, showcasing the company’s ability to capitalize on its product strengths.
Looking ahead, Amphastar Pharmaceuticals is poised for continued success with the expected approvals and launches of new products, AMP-015 and AMP-007, in 2026. Despite some moderation in growth expectations for 2026, the company’s valuation remains attractive, as it is perceived to undervalue both its current portfolio and its promising pipeline. This underappreciation in the market, combined with the company’s strategic positioning, supports the Buy rating recommendation.
Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Cytokinetics, and Liquidia Technologies. According to TipRanks, Belanger has an average return of 8.4% and a 47.60% success rate on recommended stocks.