Amphastar Pharmaceuticals (AMPH) AI Stock Analysis

• Market Cap: $1.17B
• Dividend Yield: N/A
• Average Volume (3M): 440.11K
• Price to Earnings (P/E): 11.2
• Beta (1Y): 0.69
• Revenue Growth: -0.03%
• EPS Growth: -27.66%
• Country: US
• Employees: 2,028
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.93
• Shares Outstanding: 45,952,175
• 10 Day Avg. Volume: 565,077
• 30 Day Avg. Volume: 440,111
• PEG Ratio: 0.73
• Price to Book (P/B): 2.46
• Price to Sales (P/S): 2.46
• P/FCF Ratio: 10.43
• Enterprise Value/Market Cap: 1.41
• Enterprise Value/Revenue: 2.28
• Enterprise Value/Gross Profit: 4.62
• Enterprise Value/Ebitda: 7.45
• 1Y Price Target: $29.50
• Price Target Upside: 16.28% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 3.27
• Revenue Forecast (FY): $722.86M

• Rating: 76 Outperform
• Price Target: $27.00 ▲(6.42% Upside)

Amphastar Pharmaceuticals' overall stock score of 76 reflects its strong financial performance and positive earnings call, which highlight robust revenue growth and strategic pipeline expansions. The technical analysis presents a cautious outlook due to bearish momentum indicators, while the valuation suggests potential upside given its low P/E ratio. The absence of a dividend yield and challenges from increased competition and litigation slightly temper the overall positive outlook.

Positive Factors

Pipeline Expansion

The expansion of the pipeline with novel peptide candidates targeting oncology and ophthalmology indicates a strategic move to capture new market opportunities, potentially exceeding $60 billion, which can drive long-term revenue growth and enhance competitive positioning.

Manufacturing Expansion

Quadrupling production capacity enhances operational efficiency and scalability, allowing Amphastar to meet growing demand and improve supply chain resilience, which supports sustainable growth and competitive advantage in the pharmaceutical industry.

Revenue Growth

The robust revenue growth of 41.9% reflects strong market demand for Amphastar's products, indicating successful market penetration and product adoption, which are critical for sustaining long-term business growth and financial health.

Negative Factors

Increased Competition

Increased competition leading to a significant decline in glucagon injection sales highlights the competitive pressures in the market, which can impact market share and pricing power, posing a risk to future revenue stability and growth.

Gross Margin Decline

The decline in gross margins indicates cost pressures and competitive pricing challenges, which can erode profitability over time, affecting the company's ability to invest in growth initiatives and maintain financial health.

Litigation Impact

Increased spending due to litigation provisions can strain financial resources and divert attention from core business operations, potentially impacting profitability and strategic focus in the long term.

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 generates revenue primarily through the sale of its pharmaceutical products, which are categorized into generic and proprietary offerings. The company has established key revenue streams from its injectable products, including the sale of generic versions of high-demand medications. Additionally, Amphastar benefits from partnerships with healthcare organizations and distributors that enhance its market reach and product availability. The company's revenue model is supported by pricing strategies that take into account market demand and competition, as well as potential cost savings associated with its manufacturing processes. Moreover, the company is involved in the development of new products, which can lead to increased revenue through patent protections and exclusivity periods. Significant partnerships with other pharmaceutical firms also play a role in expanding Amphastar's product portfolio and distribution channels, contributing to its overall earnings.

Amphastar Pharmaceuticals Financial Statement Overview

Summary

Amphastar Pharmaceuticals demonstrates strong financial health with impressive revenue growth of 41.9%, solid profitability, and effective cash flow management. The company maintains a low leverage position, reducing financial risk. While profitability margins have slightly declined, the overall financial trajectory remains positive, positioning the company well for future growth.

Income Statement

Amphastar Pharmaceuticals shows strong revenue growth with a TTM increase of 41.9%, indicating robust demand for its products. The company maintains healthy profitability with a gross profit margin of 49.4% and a net profit margin of 15.4% in the TTM. However, margins have slightly decreased compared to the previous year, suggesting some cost pressures or pricing adjustments.

Balance Sheet

The balance sheet reflects a solid financial position with a low debt-to-equity ratio of 0.06 in the TTM, indicating minimal leverage and financial risk. The return on equity is strong at 14.8%, showcasing effective use of equity to generate profits. However, the equity ratio is moderate, suggesting room for improvement in asset management.

Cash Flow

Cash flow analysis reveals a significant free cash flow growth of 95% in the TTM, highlighting improved cash generation capabilities. The operating cash flow to net income ratio is healthy at 0.74, indicating efficient conversion of earnings into cash. The free cash flow to net income ratio is also strong, suggesting good cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	723.30M	731.97M	644.39M	498.99M	437.77M	349.85M
Gross Profit	357.04M	373.86M	351.12M	248.86M	199.74M	143.34M
EBITDA	221.19M	277.31M	240.29M	146.16M	111.56M	30.19M
Net Income	111.63M	159.52M	137.54M	91.39M	62.12M	1.40M
Balance Sheet
Total Assets	1.67B	1.58B	1.51B	741.99M	671.53M	631.24M
Cash, Cash Equivalents and Short-Term Investments	278.64M	221.65M	256.81M	175.76M	136.67M	105.62M
Total Debt	656.77M	650.55M	623.64M	102.58M	104.66M	67.27M
Total Liabilities	889.48M	845.17M	873.49M	213.33M	226.01M	182.51M
Stockholders Equity	776.75M	732.30M	639.42M	528.66M	445.52M	402.31M
Cash Flow
Free Cash Flow	113.25M	172.34M	145.34M	65.15M	70.54M	23.41M
Operating Cash Flow	152.28M	213.39M	183.50M	89.18M	97.99M	57.27M
Investing Cash Flow	-45.44M	-124.93M	-649.12M	-32.78M	-28.67M	-36.41M
Financing Cash Flow	-82.89M	-80.95M	454.09M	-26.44M	-37.02M	-2.25M

Amphastar Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.37
• 50DMA: Negative
• 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 25.37 is above the 20-day moving average (MA) of 25.34, below the 50-day MA of 25.72, and below the 200-day MA of 26.09, indicating a neutral trend. The MACD of 0.20 indicates Negative momentum. The RSI at 48.58 is Neutral, neither overbought nor oversold. The STOCH value of 39.27 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	76 Outperform	$1.17B	11.25	14.84%	―	-0.03%	-27.66%
COLL	70 Neutral	$1.41B	27.68	22.96%	―	26.34%	-32.79%
PCRX	69 Neutral	$981.78M	―	2.90%	―	3.14%	―
ANIP	64 Neutral	$1.80B	49.26	7.83%	―	48.87%	―
AVDL	57 Neutral	$2.26B	―	-0.32%	―	79.88%	99.60%
SUPN	55 Neutral	$2.59B	―	-1.86%	―	4.54%	-130.59%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Amphastar Pharmaceuticals Corporate Events

Amphastar Pharmaceuticals Reports Q3 2025 Earnings

Amphastar Pharmaceuticals Inc., a biopharmaceutical company specializing in complex generic and proprietary injectable, inhalation, and intranasal products, recently reported its financial results for the third quarter of 2025. The company is known for its focus on technically challenging products and its commitment to expanding patient access to affordable therapies.

Amphastar Expands BAQSIMI® Distribution in Asia

On October 21, 2025, Amphastar Pharmaceuticals entered into a Distribution Agreement with Nanjing Chengong Pharmaceutical to expand the distribution of its nasal powder product, BAQSIMI®, in Mainland China, Taiwan, Hong Kong, and Macau. This agreement, which includes profit sharing and regulatory responsibilities for Chengong, represents a related party transaction due to shared ownership interests, and was approved by Amphastar’s Audit Committee.

The most recent analyst rating on (AMPH) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Amphastar Pharmaceuticals stock, see the AMPH Stock Forecast page.

Amphastar Signs $2.8M Research Agreement with Hanxin

On September 15, 2025, Amphastar Pharmaceuticals entered into a contract research agreement with Nanjing Hanxin Pharmaceutical Technology to develop Recombinant Peptide Research Cell Banks for the company. This agreement, valued at approximately $2.8 million, grants Amphastar exclusive rights to the developed cell banks and associated proprietary information. The deal was approved by the independent members of Amphastar’s Audit Committee due to potential conflicts of interest, as the company’s executives hold significant equity in Hanxin.

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.

Amphastar Pharmaceuticals’ Mixed Earnings Call Highlights

Amphastar Pharmaceuticals’ recent earnings call painted a mixed picture of the company’s current standing. While there were notable achievements, such as the impressive performance of BAQSIMI and strategic manufacturing expansions, these were counterbalanced by declines in overall revenue and net income, alongside challenges from increased competition in key product lines.

Amphastar Pharmaceuticals Enters Strategic Licensing Agreement

On August 8, 2025, Amphastar Pharmaceuticals entered into a strategic licensing agreement with Nanjing Anji Biotechnology Co., Ltd. to develop and commercialize three proprietary peptides in the United States and Canada. This collaboration aims to enhance Amphastar’s pipeline in oncology and ophthalmology, with potential milestone payments to Anji reaching up to $453 million over the agreement’s term. The partnership underscores Amphastar’s commitment to advancing peptide therapeutics and expanding its market presence in high-growth areas.

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.