Amphastar Pharmaceuticals (NASDAQ:AMPH) Releases Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Key Points

• Amphastar beat quarterly expectations: EPS was $0.91 versus the $0.62 consensus, while revenue rose 5% year over year to $183.9 million. Management maintained its mid-single-digit to high-single-digit 2026 sales-growth outlook.
• Newer products supported results, including ipratropium bromide, which generated $8.4 million in sales after its April launch. However, glucagon revenue fell 42% amid competition, and BAQSIMI sales declined 3% because of pricing and discount pressures.
• Regulatory and market concerns remain: IMS expects $2 million–$3 million in additional quarterly remediation costs following an FDA warning letter, while analysts’ consensus rating is “Reduce” with a $22 price target. Shares fell 2.1% to $19.81.

Amphastar Pharmaceuticals (NASDAQ:AMPH - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.29, FiscalAI reports. Amphastar Pharmaceuticals had a return on equity of 15.12% and a net margin of 11.00%.The firm had revenue of $183.90 million for the quarter, compared to the consensus estimate of $179.92 million.

Here are the key takeaways from Amphastar Pharmaceuticals' conference call:

• Second-quarter revenue rose 5% year over year to $183.9 million, with gross margin improving to 51% as recently launched products, including ipratropium bromide, teriparatide, and iron sucrose, contributed higher-margin sales. Management maintained its 2026 corporate sales-growth outlook of mid-single-digit to high-single-digit growth.
• Ipratropium bromide launched successfully in April, generating $8.4 million in quarterly sales, and management said the product is approaching its targeted 50%–80% market-share range. BAQSIMI prescriptions also increased 17% year over year, and the product exceeded its annual sales milestone, triggering a $100 million payment to Eli Lilly.
• IMS received an FDA warning letter and expects an additional $2 million to $3 million per quarter in remediation expenses for the next several quarters, along with somewhat slower sales and possible production delays. Management does not currently expect a material impact on overall operations and said manufacturing and distribution are continuing.
• Glucagon sales fell 42% year over year to $11.9 million because of intensified competition; management expects the decline to moderate but does not anticipate the product returning to growth. BAQSIMI sales also declined 3% because of lower pricing, rebates, and 340B discounts despite higher prescription volumes.
• The company advanced several pipeline programs, including initiating a Phase I trial for AMP-101 epinephrine nasal spray and continuing preparations for its insulin aspart biosimilar, which remains on track for a potential 2027 launch subject to approval. Amphastar also repurchased approximately $45 million of shares during the quarter.

Amphastar Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ:AMPH traded down $0.43 on Thursday, hitting $19.81. 526,646 shares of the company's stock were exchanged, compared to its average volume of 406,020. The firm's 50-day moving average is $19.63 and its 200 day moving average is $21.40. The company has a market capitalization of $873.42 million, a PE ratio of 11.93, a P/E/G ratio of 4.27 and a beta of 0.89. Amphastar Pharmaceuticals has a 1-year low of $16.65 and a 1-year high of $31.26. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 3.85.

Institutional Investors Weigh In On Amphastar Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Amphastar Pharmaceuticals during the 3rd quarter worth approximately $32,000. Quadrant Capital Group LLC purchased a new position in shares of Amphastar Pharmaceuticals in the 3rd quarter valued at $82,000. Tower Research Capital LLC TRC grew its position in shares of Amphastar Pharmaceuticals by 263.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,583 shares of the company's stock valued at $82,000 after buying an additional 2,596 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Amphastar Pharmaceuticals by 55.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,200 shares of the company's stock worth $96,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Corient IA LLC acquired a new stake in Amphastar Pharmaceuticals during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 65.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMPH. Barclays cut their price target on shares of Amphastar Pharmaceuticals from $23.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 3rd. Bank of America restated an "underperform" rating and issued a $20.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a report on Monday, June 29th. Jefferies Financial Group reiterated a "hold" rating and set a $22.00 target price (down from $30.00) on shares of Amphastar Pharmaceuticals in a report on Tuesday, April 21st. Weiss Ratings restated a "sell (d+)" rating on shares of Amphastar Pharmaceuticals in a research note on Wednesday, July 8th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $21.00 price objective (down from $25.00) on shares of Amphastar Pharmaceuticals in a research report on Monday, May 11th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $22.00.

About Amphastar Pharmaceuticals

Amphastar Pharmaceuticals, Inc is a specialty pharmaceutical company headquartered in Rancho Cucamonga, California. Founded in 2004, Amphastar focuses on the development, manufacturing and commercialization of injectable and inhalation products. The company's manufacturing facilities in California produce both generic and proprietary formulations designed to address urgent and chronic medical conditions.

Amphastar's portfolio includes a range of injectable generics such as epinephrine, naloxone and lidocaine, serving hospital, emergency medical and retail pharmacy channels.

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