Amphastar Pharmaceuticals (AMPH) AI Stock Analysis

• Market Cap: $1.22B
• Dividend Yield: N/A
• Average Volume (3M): 523.88K
• Price to Earnings (P/E): 9.4
• Beta (1Y): 0.66
• Revenue Growth: 8.05%
• EPS Growth: -8.46%
• Country: US
• Employees: 2,028
• Sector: Healthcare
• Sector Strength: 55
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.74
• Shares Outstanding: 47,139,084
• 10 Day Avg. Volume: 506,972
• 30 Day Avg. Volume: 523,882
• PEG Ratio: 0.33
• Price to Book (P/B): 2.57
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 20.88
• Enterprise Value/Market Cap: 1.07
• Enterprise Value/Revenue: 0.45
• Enterprise Value/Gross Profit: 3.57
• Enterprise Value/Ebitda: 1.21
• 1Y Price Target: $31.50
• Price Target Upside: 21.25% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 5

• Rating: 79 Outperform
• Price Target: $30.00 ▲(15.47%Upside)

Amphastar Pharmaceuticals' strong financial performance and attractive valuation are key strengths, offset by mixed signals from technical analysis and earnings call challenges. While the company shows potential for growth, ongoing competitive pressures and margin challenges must be addressed for sustained success.

Positive Factors

Growth Products

Baqsimi and Primatene Mist are delivering better than expected growth, with Primatene showing especially strong performance.

Pipeline Optimism

Management expressed optimism for potential approvals of AMP-002 and AMP-007, citing recent positive interactions with the FDA.

Stock Valuation

Despite challenges, AMPH shares remain very inexpensive at these levels, suggesting potential value to investors.

Negative Factors

Generic Portfolio Erosion

Both glucagon and epinephrine are eroding faster than the Street was expecting, which analysts predict will lead to significant challenges.

Pipeline Setbacks

The company has faced continued setbacks on the pipeline front, including the two most recent CRLs on AMP-007 and AMP-018, which were key to offsetting erosion for the generic portfolio.

Revenue and Margin Pressure

Amphastar is facing several headwinds in 2025/2026, with anticipated significant revenue decline in Glucagon and a cautious outlook on epinephrine.

Amphastar Pharmaceuticals Business Overview & Revenue Model

Company Description

Amphastar Pharmaceuticals, Inc., a bio-pharmaceutical company, develops, manufactures, markets, and sells generic and proprietary injectable, inhalation, and intranasal products in the United States, China, and France. The company operates through two segments, Finished Pharmaceutical Products and API. It offers Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, a low molecular weight heparin to prevent and treat deep vein thrombosis; Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, a lyophilized powder for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency. The company also provides Amphadase, a bovine-sourced hyaluronidase injection to absorb and disperse other injected drugs; Epinephrine injection for the emergency treatment of allergic reactions; lidocaine jelly, an anesthetic product for urological procedures; lidocaine topical solution for various procedures; phytonadione injection, a vitamin K1 injection for newborn babies; emergency syringe products for emergency use in hospital settings; morphine injection for use with patient controlled analgesia pumps; and lorazepam injection for surgery and medical procedures. In addition, it offers neostigmine methylsulfate injection to treat myasthenia gravis and to reverse the effects of muscle relaxants; and Isoproterenol hydrochloride injection for mild or transient episodes of heart block. Further, the company distributes recombinant human insulin active pharmaceutical ingredients (API) and porcine insulin API. It serves hospitals, care facilities, alternate care sites, clinics, and doctors' offices. The company was founded in 1996 and is headquartered in Rancho Cucamonga, California.

How the Company Makes Money

Amphastar Pharmaceuticals makes money primarily through the sale of its pharmaceutical products. Its revenue model is based on the manufacturing and distribution of generic and proprietary injectable and inhalation products, along with APIs. The company generates significant income from its generic product segment, which includes critical injectable medications used in hospitals and clinics. Amphastar also engages in strategic partnerships and alliances with other pharmaceutical companies to enhance its product offerings and expand its market reach. Additionally, the company invests in research and development to innovate and bring new products to market, which can drive future revenue growth. Sales to wholesalers, distributors, retail pharmacy chains, and group purchasing organizations constitute key revenue streams for the company.

Amphastar Pharmaceuticals Financial Statement Overview

Summary

Amphastar Pharmaceuticals shows strong financial health with consistent revenue growth and solid profitability margins. While there is a slight decline in net profit margin, the company's operational efficiency and effective cash flow management provide a strong foundation. The balanced leverage and robust ROE further underline its financial stability. Overall, Amphastar is well-positioned for sustainable growth, with some areas for improvement in margin expansion and liability management.

Income Statement

Amphastar Pharmaceuticals demonstrates strong financial performance with consistent revenue growth, evidenced by a TTM revenue of $728.26M, a 3.24% growth from the previous year. The gross profit margin remains solid at 50.24%, indicating effective cost management. However, the net profit margin has slightly decreased to 19.45% in the TTM period from 22.37% in 2024, suggesting some pressure on profitability. The EBIT margin is stable at 26.74%, while the EBITDA margin is healthy at 33.03%, reflecting strong operational efficiency.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio of 0.87, indicating a balanced approach to leveraging. Return on Equity (ROE) is robust at 18.85%, showcasing effective use of equity capital. The equity ratio stands at 46.19%, suggesting a solid capital structure with room for improvement in reducing liabilities further.

Cash Flow

Amphastar has demonstrated strong cash flow generation with a free cash flow growth of -12.84% in the latest TTM period, which is a decline but still positive in absolute terms at $150.23M. The operating cash flow to net income ratio is impressive at 1.36, indicating good cash generation from operations. The free cash flow to net income ratio is 1.06, reflecting efficient capital expenditure management.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
728.26M	712.81M	644.39M	498.99M	437.77M	349.85M
	Gross Profit
365.89M	373.86M	351.12M	248.86M	199.74M	143.34M
	EBIT
194.70M	205.42M	196.99M	78.76M	43.13M	-14.23M
	EBITDA
255.58M	277.31M	240.29M	107.50M	111.78M	30.19M
	Net Income Common Stockholders
141.63M	159.52M	137.54M	91.39M	62.12M	1.10M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
236.88M	221.65M	256.81M	175.76M	136.67M	105.62M
	Total Assets
1.63B	1.58B	1.51B	741.99M	671.53M	631.24M
	Total Debt
652.53M	650.55M	623.64M	102.58M	104.66M	67.27M
	Net Debt
469.75M	498.94M	479.35M	-53.52M	-21.69M	-25.37M
	Total Liabilities
874.99M	845.17M	873.49M	213.33M	226.01M	182.51M
	Stockholders Equity
751.28M	732.30M	639.42M	528.66M	445.52M	402.31M
Cash Flow		Free Cash Flow
150.23M	172.34M	145.34M	65.15M	70.54M	23.41M
	Operating Cash Flow
193.17M	213.39M	183.50M	89.18M	97.99M	57.27M
	Investing Cash Flow
-129.69M	-124.93M	-649.12M	-32.78M	-28.67M	-36.41M
	Financing Cash Flow
-81.88M	-80.95M	454.09M	-26.44M	-37.02M	-2.25M

Amphastar Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.98
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMPH, the sentiment is Negative. The current price of 25.98 is above the 20-day moving average (MA) of 25.57, above the 50-day MA of 24.76, and below the 200-day MA of 36.28, indicating a neutral trend. The MACD of 0.37 indicates Negative momentum. The RSI at 53.63 is Neutral, neither overbought nor oversold. The STOCH value of 41.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AMPH.

Amphastar Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMPH	79 Outperform	$1.22B	9.37	19.90%	―	8.05%	-8.46%
CLDX	62 Neutral	$1.35B	―	-23.20%	―	24.49%	5.14%
PCRX	59 Neutral	$1.13B	―	-12.27%	―	3.08%	-247.82%
SDGR	59 Neutral	$1.56B	―	-43.33%	―	22.29%	-32.89%
Sector *	54 Neutral	$5.34B	3.27	-45.10%	3.30%	16.80%	0.02%
WVE	53 Neutral	$1.06B	―	-105.50%	―	-7.06%	-57.17%
DYN	43 Neutral	$1.64B	―	-64.01%	―	―	14.93%

Amphastar Pharmaceuticals Corporate Events

Amphastar Pharmaceuticals Stockholders Approve Key Amendments

At the 2025 Annual Meeting of Stockholders held on June 2, 2025, Amphastar Pharmaceuticals‘ stockholders approved several key amendments to the company’s Charter and Bylaws. These included changes to reflect Delaware law provisions regarding officer exculpation and the removal of the forum selection provision. Additionally, the election of three Class III directors, the ratification of Ernst & Young LLP as the independent accounting firm, and the approval of executive compensation were confirmed. These decisions are expected to impact the company’s governance structure and operational flexibility, potentially influencing its strategic direction and stakeholder relations.

The most recent analyst rating on (AMPH) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on Amphastar Pharmaceuticals stock, see the AMPH Stock Forecast page.