Amphastar Pharmaceuticals Q3 revenue beats estimates

Overview

• Amphastar Q3 revenue of $191.8 mln beats analyst expectations

• Adjusted EPS for Q3 at $0.93, surpassing consensus estimates

• Company received FDA approval and launched iron sucrose injection

Outlook

• Company expects strategic pipeline expansion to drive long-term growth

• Amphastar anticipates revenue growth from new iron sucrose injection

• Company sees growth potential in novel peptides targeting oncology and ophthalmology

Result Drivers

• BAQSIMI SALES - Double-digit growth in BAQSIMI sales due to increased unit volumes from expanded marketing efforts in the U.S.

• IRON SUCROSE LAUNCH - Launch of iron sucrose injection contributed to revenue growth, expanding patient access to affordable therapies

• LICENSING AGREEMENT - Strategic licensing agreement with Nanjing Anji Biotechnology to develop novel peptides for oncology and ophthalmology markets

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Amphastar Pharmaceuticals Inc is $35.00, about 27.7% above its November 5 closing price of $25.31

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nACSTr3wba

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)