Needham analyst Serge Belanger has maintained their neutral stance on AMPH stock, giving a Hold rating today.
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Serge Belanger has given his Hold rating due to a combination of factors affecting Amphastar Pharmaceuticals. The company’s recent quarterly revenue slightly exceeded expectations, primarily due to the strong performance of Baqsimi, which is anticipated to drive sales in the latter half of the year. However, despite this positive development, the overall revenue growth is projected to remain flat year-over-year, requiring a significant increase in the second half of the year to meet targets.
Belanger’s cautious stance is further influenced by the uncertainty surrounding the approval of key products, such as AMP-002 and AMP-015, which are crucial for achieving the company’s revenue goals. While the valuation appears attractive for potential investors, the lack of clear visibility on these regulatory approvals and other growth catalysts leads to a more conservative Hold rating, as the analyst prefers to wait for more concrete developments.
Belanger covers the Healthcare sector, focusing on stocks such as Liquidia Technologies, BioCryst, and Viridian Therapeutics. According to TipRanks, Belanger has an average return of 2.8% and a 44.00% success rate on recommended stocks.
In another report released today, Piper Sandler also maintained a Hold rating on the stock with a $25.00 price target.