Amphastar Pharmaceuticals (AMPH) AI Stock Analysis

• Market Cap: $1.18B
• Dividend Yield: N/A
• Average Volume (3M): 431.34K
• Price to Earnings (P/E): 11.5
• 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: 354,991
• 30 Day Avg. Volume: 431,339
• 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: 1.40
• Enterprise Value/Revenue: 2.28
• Enterprise Value/Gross Profit: 4.62
• Enterprise Value/Ebitda: 7.45
• 1Y Price Target: $29.67
• Price Target Upside: 17.41% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): 3.36
• Revenue Forecast (FY): $722.86M

• Rating: 77 Outperform
• Price Target: $30.00 ▲(18.72% Upside)

Amphastar Pharmaceuticals scores well due to its strong financial performance and strategic growth initiatives. The company's robust revenue growth, effective cash flow management, and low leverage are significant strengths. Technical indicators are mixed, and valuation suggests the stock is undervalued. The earnings call and recent corporate events further support a positive outlook, despite some competitive pressures and litigation impacts.

Positive Factors

Pipeline Expansion

The addition of novel peptide candidates targeting oncology and ophthalmology enhances Amphastar's product portfolio, promising long-term revenue growth and market expansion.

Manufacturing Expansion

Increasing production capacity strengthens operational agility, supporting future growth and enabling the company to meet rising demand efficiently.

Regulatory Progress

Regulatory approval of new products like AMP-002 enhances Amphastar's market position and revenue potential, reflecting successful R&D and compliance capabilities.

Negative Factors

Decline in Glucagon Injection Sales

Significant sales decline in glucagon injections indicates competitive pressures and potential market share loss, impacting revenue stability.

Gross Margin Decline

Decreasing gross margins suggest cost pressures and competitive pricing challenges, potentially affecting long-term profitability.

Litigation Impact

Increased litigation costs can strain financial resources, diverting funds from growth initiatives and impacting net income.

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 injectable generic and specialty products to hospitals, pharmacies, and distributors. The company has established a diversified revenue model that includes direct sales of its proprietary products, royalties from licensing agreements, and partnerships with other pharmaceutical companies for the development of new products. Key revenue streams include the sale of core products like epinephrine and naloxone, which are in high demand due to their critical therapeutic use. Additionally, Amphastar benefits from strategic partnerships that enhance its product pipeline and market reach, contributing to its overall earnings through collaborative development agreements and shared revenue from co-marketed products.

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: 25.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 25.27 is below the 20-day moving average (MA) of 26.42, below the 50-day MA of 25.51, and below the 200-day MA of 25.67, indicating a bearish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 42.93 is Neutral, neither overbought nor oversold. The STOCH value of 15.78 is Positive, 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	77 Outperform	$1.18B	11.48	14.84%	―	-0.03%	-27.66%
COLL	71 Outperform	$1.54B	30.10	22.96%	―	26.34%	-32.79%
PCRX	69 Neutral	$1.03B	53.78	2.90%	―	3.14%	―
ANIP	64 Neutral	$1.84B	50.37	7.83%	―	48.87%	―
AVDL	59 Neutral	$2.10B	―	-0.32%	―	79.88%	99.60%
SUPN	55 Neutral	$2.65B	―	-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 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.

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.