Amphastar Pharmaceuticals
Maker of technically demanding generic and branded injectable, inhalation, and intranasal drugs.
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Profile
Built by scientist-founders who still run daily operations, the business makes technically demanding generic and proprietary injectable, inhalation, and intranasal drugs, anchored by an intranasal glucagon emergency treatment and the only over-the-counter epinephrine asthma inhaler cleared in the US.
Built since 1996 by a pair of scientist-founders who still run day-to-day operations, the business specializes in technically demanding generic and proprietary injectable, inhalation, and intranasal drugs, categories that reward manufacturing and analytical complexity most competitors avoid.
The product lineup spans more than two dozen prescription and over-the-counter medicines, anchored by an intranasal glucagon emergency treatment, an epinephrine inhaler that is the only over-the-counter asthma option cleared in the US, and a nasal naloxone spray. Operations are reported as a single pharmaceutical products segment.
Active ingredient production in China and France feeds finished-dose manufacturing across California and Massachusetts, keeping the supply chain largely in-house. A 2023 purchase of a branded glucagon franchise from a global drugmaker shifted the portfolio from a generics-heavy mix toward a branded-and-generic hybrid.
Company facts
Key statistics
Year to date −16.8% · Average volume (30d) 432.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 18, 2026 | Barclays | Reiterate | Equal Weight | $20 | $23 | |
| Jun 29, 2026 | Bank of America Securities | Downgrade | Underperform | |||
| Jun 29, 2026 | B of A Securities | Downgrade | Neutral | Underperform | ||
| Jun 3, 2026 | Barclays | Reiterate | Equal Weight | $30 | $20 | |
| May 14, 2026 | Wells Fargo | Downgrade | Overweight | Equal Weight | $19 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.62 | $0.91 | +46.8% | $179.9M | $183.9M | +2.2% | +4.90% |
| May 7, 2026Q1 FY26 | $0.70 | $0.42 | −40.0% | $173.5M | $171.2M | −1.3% | −20.93% |
| Feb 26, 2026Q4 FY25 | $0.90 | $0.73 | −19.2% | $188.8M | $183.1M | −3.0% | −23.63% |
| Nov 6, 2025Q3 FY25 | $0.77 | $0.93 | +20.8% | $190.5M | $191.8M | +0.7% | −0.83% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $170.5M | $174.4M | $191.8M | $183.1M | $171.2M | $183.9M | |
| Gross profit | $85.3M | $86.5M | $98.6M | $85.7M | $70.3M | $93.5M | |
| Operating income | $37.3M | $42.2M | $25.3M | $35.6M | $13.6M | $39.7M | |
| Net income | $25.3M | $31.0M | $17.4M | $24.4M | $6.4M | $30.3M | |
| Diluted EPS | $0.51 | $0.64 | $0.37 | $0.51 | $0.14 | $0.67 | |
| Gross margin | 50.0% | 49.6% | 51.4% | 46.8% | 41.1% | 50.8% | |
| Operating margin | 21.9% | 24.2% | 13.2% | 19.4% | 8.0% | 21.6% |
Fiscal years (4-quarter sums)FY21 $437.8M · FY22 $499.0M · FY23 $644.4M · FY24 $729.6M · FY25 $719.9M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $290.1M · Total debt $688.3M · Total assets $1.74B · Shareholders' equity $768.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 44.09M · Float 32.83M · 74.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.22M | 11.85% | 13F | Aug 7, 2026 |
| Jack Y. Zhang · director, 10 percent owner, officer: CEO & CHIEF SCIENTIFIC OFFICER | 4.24M | 9.61% | Form 4 | Mar 17, 2026 |
| Dimensional Fund Advisors LP | 2.31M | 5.20% | 13G | Jul 14, 2026 |
| State Street Corp | 1.64M | 3.72% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 1.48M | 3.36% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Richard K. Prins | director | −7,973 | $20.30 |
| Aug 7, 2026 | William J. Peters | director, officer: CFO, EVP & TREASURER | −8,180 | $22.48 |
| Dec 17, 2025 | Rong Zhou | officer: SENIOR EVP, PRODUCTION CENTER | −9,787 | $26.20 |
| Dec 12, 2025 | Floyd F. Petersen | director | −2,426 | $25.92 |
| Dec 11, 2025 | Floyd F. Petersen | director | −1,737 | $25.69 |
Peers
- Emergent BioSolutions
NARCAN and Kloxxado dominate naloxone nasal spray, competing with REXTOVY
- Xeris Biopharma
Ready-to-use Gvoke glucagon pen/syringe rivals BAQSIMI in hypoglycemia rescue
- Teva (ADR)
World's largest generic drugmaker, broad sterile injectables portfolio
- Pfizer
Largest US hospital generic sterile-injectables supplier, via Hospira brand
- Amneal Pharmaceuticals
US generics/specialty pharma with a sizable sterile-injectables franchise
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Amphastar Pharmaceuticals | $22.01 | 0.00% | $970.5M | 13.0 | 6.9 | 1.3 | +5.4% |
| Emergent BioSolutions | $5.82 | −1.61% | $304.9M | — | — | 0.4 | +66.3% |
| Xeris Biopharma | $8.48 | +0.06% | $1.46B | — | 47.8 | 4.4 | +27.2% |
| Teva (ADR) | $36.30 | −0.36% | $42.44B | 60.7 | 12.9 | 2.5 | −0.8% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Amneal Pharmaceuticals | $17.54 | 0.00% | $5.60B | 36.0 | 16.9 | 1.8 | +9.9% |
| Median | 36.9 | 14.9 | 2.5 | +9.9% |