Amphastar Pharma (AMPH) Stock Forecast & Price Target

Amphastar Pharmaceuticals Inc. has demonstrated strong sales growth for its product Baqsimi, with an estimated 20% quarter-over-quarter increase in prescriptions during the third quarter of 2025, supported by seasonal trends and a sales collaboration. The company anticipates maintaining a stable revenue outlook for 2025 with a projected return to double-digit growth in 2026, aligning it more closely with industry peers in terms of top-line performance and price-to-earnings multiples. Additionally, other products like Primatene Mist have shown robust performance in the same quarter, likely contributing to continued positive momentum in the company’s sales trajectory.

Amphastar Pharmaceuticals Inc. faces significant financial challenges due to increased competition and supply issues impacting key products such as iron sucrose, which is now expected to generate substantially lower quarterly sales than initially projected. Additionally, the glucagon segment is anticipated to experience continued revenue declines as the market shifts from a sole supplier to a competitive landscape involving multiple players, resulting in an expected drop in annual sales below $70 million starting in 2026. Consequently, the company’s growth outlook has shifted from expectations of double-digit growth to a more conservative forecast of high-single digits to low-double digits, raising concerns about its overall financial stability.