Amphastar Pharmaceuticals, Inc. (AMPH)

Amphastar Pharmaceuticals' stock has declined by 27.34% in the past six months and approximately 12.90% from May 5, 2025, to May 1, 2026. Q1 2026 earnings missed expectations, with net revenues at $171.2 million and GAAP net income falling to $6.4 million. This was due to lower BAQSIMI® prices, increased competition for legacy products, and higher operating expenses. Glucagon injection sales declined 56% due to competition. Positive contributions came from recently launched products and an 8% increase in U.S. BAQSIMI® sales unit volumes. The company announced a multi-year expansion plan to quadruple its U.S. manufacturing capacity.

Demand trends for key products like BAQSIMI® and Primatene MIST® remain positive, and seasonality did not drive BAQSIMI's pricing issues in Q1 2026. Primatene MIST has also shown sustained consumer demand. There is no strong indication of significant seasonal fluctuations in demand for Amphastar Pharmaceuticals' core products and services.

Amphastar Pharmaceuticals operates in the pharmaceutical preparation manufacturing sector, offering a range of critical and non-critical care drugs. Key products include BAQSIMI®, Primatene MIST®, REXTOVY®, Amphadase®, Cortrosyn®, Glucagon for injection, Enoxaparin, Naloxone, Epinephrine injection, Lidocaine jelly and topical solution, Phytonadione injection, Albuterol sulfate inhalation aerosol, Iron sucrose injection, Teriparatide injection, and Ipratropium Bromide HFA inhalation aerosol. The company also manufactures Recombinant Human Insulin API and porcine insulin API.

Amphastar Pharmaceuticals develops, manufactures, markets, and sells its products in the United States, China, and France. Finished drug products are manufactured in the United States, while APIs are manufactured in the United States, China, and France. The company's headquarters are in Rancho Cucamonga, California, with other U.S. facilities in South El Monte, California, and Canton, Massachusetts. Amphastar Nanjing Pharmaceuticals, Inc. (ANP) in China and Amphastar France Pharmaceuticals (AFP) in France are key API manufacturing sites. The United States accounts for over 90% of total sales.

There are no explicitly detailed events impacting Amphastar Pharmaceuticals' brand reputation in a broadly publicized manner in the past year. The company has faced pricing pressures for BAQSIMI® and increased competition for legacy products. Historically, the company faced criticism in 2015 for doubling the price of naloxone and an FDA rejection in 2017 for a naloxone intranasal device. The acquisition of BAQSIMI® in April 2023 and the successful launch of new products like Ipratropium Bromide HFA in April 2026 could positively contribute to its reputation.

Amphastar Pharmaceuticals has a significant institutional ownership base, with 231 institutional owners holding 33,141,142 shares as of May 5, 2026. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, TD Asset Management Inc, Dimensional Fund Advisors Lp, and State Street Corp. Founding executives Dr. Jack Y. Zhang and Dr. Mary Z. Luo retain significant influence. Institutional ownership accounts for approximately 68%, while founders hold roughly 16%.