Amphastar P logo

Amphastar P(AMPH)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
1-STAR RATING
Consider higher Upturn Star rating
BUY for 35 days
PROFIT SINCE LAST BUY
+21.62% ▲
LAST CLOSE
$25.43
10/02/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for AMPH

10/02/2026: AMPH (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Amphastar Pharmaceuticals is a specialized biopharmaceutical company focused on complex injectable and inhalation products. It has built a reputation for technical manufacturing proficiency, which provides a competitive barrier in the generic and niche drug markets. The company's recent acquisition of the Baqsimi franchise represents a strategic shift toward higher-margin, branded offerings, fueling its primary growth narrative. However, risks include regulatory uncertainty, significant competition in the generic sector, and the complexities of scaling newly acquired assets. Amphastar may be suitable for growth-oriented investors, though they must monitor FDA approval pipelines and integration performance carefully, as the stock offers no dividend income.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fitThe company provides exposure to product portfolio expansion and strategic market acquisition in specialized segments.
Momentum investorMixed fitMomentum can be volatile based on specific FDA approval timelines and earnings beats.
Value investorMixed fitValuation fluctuates significantly based on the success of new product commercialization.
Dividend investorWeak fitThe company does not pay a dividend, focusing instead on capital reinvestment.
Low-risk investorWeak fitThe pharmaceutical sector, especially for smaller-cap players, involves significant regulatory and clinical trial risk.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock is susceptible to sharp moves based on clinical data, regulatory rulings, and quarterly earnings performance.
Valuation riskMediumMarket expectations for growth must be met to sustain premium trading multiples.
Competition riskMedium / highAggressive pricing from large generic competitors can erode margins on staple products.
Business qualityMediumVertical integration provides a competitive edge, though execution on large acquisitions is key.
Dividend incomeLow / noneInvestors seeking immediate cash yield will not find it here.
Execution riskMediumSuccess depends heavily on the effective commercialization of recent acquisitions like Baqsimi.

Price Behavior

Downtrend
PRICE PATH

Downtrend

The stock has experienced a sustained decline in price over recent periods.

Highly Choppy
PRICE STABILITY

Highly Choppy

The stock has experienced frequent, large price swings that make its near-term movement less predictable.

Analysis of Past Performance

Type Stock
Historic Profit -53.12%
Avg. Invested days 24
Today’s Advisory Consider higher Upturn Star rating
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Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/02/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
AMPH receives a 3-star rating, supported by solid unit economics. The rating is constrained by weak price momentum, and limited analyst upside.

Company Fundamentals

★★★★★
AMPH has moderate overall fundamentals (3 stars), with solid financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, strong cash generation (FCF margin 16.8%) and solid profitability (net margin 13.6%) are partially offset by negative earnings growth (-38.5%), slightly negative revenue growth (-1.7%).

Financial Health Rating

★★★★★
AMPH's financial health is supported by solid cash strength, including free-cash-flow generation (16.8% of revenue). Profitability is moderate (3 stars), which helps explain the 4-star overall score.

Growth Momentum Score

★★★★★
AMPH's growth profile is soft, with the least-weak measure being revenue growth at -1.7% FY2025 versus FY2024. By comparison, while earnings growth (-38.5%, negative) and free-cash-flow growth (-29.7%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 68.7% and approximately 73.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 30.81% supports management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 12.28%
Dimensional Fund Advisors, Inc. 5.42%
State Street Corp 3.86%
Vanguard Capital Management, LLC 3.48%
American Century Companies Inc 2.77%

Unit Economics (Per $1K Revenue)

★★★★★
AMPH generates approximately $495 of gross profit, $195 of operating income, and $168 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Solid margins and strong cash conversion support the rating, although capital efficiency remains soft.

Economic Dimensions

★★★★★
Effective Tax Rate: 20.65%

Quantitative Style Profile

★★★★★
AMPH has a high-quality, liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedQuality TiltSmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.08B USD
Price to earnings Ratio 15
1Y Target Price 22.5
Price to earnings Ratio 15
1Y Target Price 22.5
Volume (30-day avg) 483.9K shares
Beta 0.92
52 Weeks Range 16.64 - 29.52
Updated Date 10/02/2026
52 Weeks Range 16.64 - 29.52
Updated Date 10/02/2026
Dividends yield (FY) -
Basic EPS (TTM) 1.69

How Company Makes Money

Business areaWhat it includesRetail investor read
InjectablesGeneric and proprietary sterile, parenteral drugs for hospitals.The bread-and-butter revenue driver for the company.
Inhalation/IntranasalComplex delivery systems like Baqsimi and Primatene Mist.High-growth segment with strong proprietary assets.
Geographic ExposureUS-focused commercial market with manufacturing globally.Revenue is heavily tied to the US healthcare system and pricing.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 15
Forward PE -
Enterprise Value 1.46B
Price to Sales(TTM) 1.48
Enterprise Value 1.46B
Price to Sales(TTM) 1.48
Enterprise Value to Revenue 2
Enterprise Value to EBITDA 7.57
Shares Outstanding 42.54M
Shares Floating 31.29M
Shares Outstanding 42.54M
Shares Floating 31.29M
Percent Insiders 30.81
Percent Institutions 68.71

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Amphastar P

Exchange NASDAQ
Headquarters Rancho Cucamonga, CA, United States
IPO Launch date 2014-06-25
Co-Founder, President, CEO, Chief Scientific Officer & Director Dr. Yongfeng Zhang Ph.D.
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Full time employees 1976
Full time employees 1976

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. It offers BAQSIMI, a dry nasal spray used in an emergency for the treatment of severe hypoglycemia; Primatene MIST, an epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Glucagon for injection emergency kit; Enoxaparin, an injectable form of low molecular weight heparin for the prevention and treatment of deep vein thrombosis; and REXTOVY and Naloxone for opioid overdose. The company also provides Cortrosyn, a lyophilized power for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency; Amphadase, a bovine-sourced hyaluronidase injection; Epinephrine injection for 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; and emergency syringe products, including atropine, calcium chloride, dextrose, epinephrine, lidocaine, and sodium bicarbonate. In addition, it offers Albuterol sulfate inhalation aerosol for the treatment or prevention of bronchospasm; Iron sucrose injection, an iron replacement product for the treatment of iron deficiency anemia in patients with chronic kidney disease; Teriparatide injection for managing daily osteoporosis therapy; and Ipratropium Bromide HFA inhalation aerosol, an anticholinergic indicated for the maintenance treatment of bronchospasm associated with chronic obstructive pulmonary disease. Further, the company provides active pharmaceutical ingredient (API) products, such as Recombinant Human Insulin and porcine insulin API. The company was founded in 1996 and is headquartered in Rancho Cucamonga, California.