Overview
Amphastar Pharma Q2 revenue of $174.4 mln beats analyst expectations, per LSEG data
Adjusted EPS of $0.85 surpasses consensus, driven by strong BAQSIMI sales
Co announces major infrastructure investment to expand manufacturing capacity
Outlook
Company plans to quadruple manufacturing capacity at its headquarters
Amphastar aims to mitigate international supply chain risks
Company focuses on expanding U.S. manufacturing footprint
Result Drivers
BAQSIMI SALES - 21% increase in BAQSIMI sales driven by higher unit volume, per CEO Jack Zhang
INFRASTRUCTURE INVESTMENT - Largest domestic infrastructure investment announced to quadruple manufacturing capacity
EPINEPHRINE COMPETITION - Decrease in epinephrine sales due to increased competition and suppliers returning to historical distribution levels
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$174.41 mln
$173.30 mln (5 Analysts)
Q2 Adjusted EPS
Beat
$0.85
$0.74 (6 Analysts)
Q2 EPS
$0.64
Q2 Adjusted Net Income
Beat
$40.89 mln
$37.50 mln (6 Analysts)
Q2 Net Income
$31.03 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "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 $32.50, about 35.9% above its August 6 closing price of $20.82
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nACSQhyMka
(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.)