Amphastar Pharmaceuticals, Inc. (AMPH) Stock

Amphastar Pharmaceuticals, Inc. (AMPH) is a Healthcare stock trading at $21.60 (as of 2026-08-21), with a market capitalization of $952.41M and a trailing P/E of 15.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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. The company operates through two segments, Finished Pharmaceutical Products and API. It offers Primatene Mist, an over-the-counter epinephrine inhalation product for the temporary relief of mild symptoms of intermittent asthma; Enoxaparin, a low molecular weight heparin to prevent and treat deep vein thrombosis; Naloxone for opioid overdose; Glucagon for injection emergency kit; and Cortrosyn, a lyophilized powder for use as a diagnostic agent in the screening of patients with adrenocortical insufficiency. The company also provides Amphadase, a bovine-sourced hyaluronidase injection to absorb and disperse other injected drugs; Epinephrine injection for the emergency treatment of 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; emergency syringe products for emergency use in hospital settings; morphine injection for use with patient controlled analgesia pumps; and lorazepam injection for surgery and medical procedures. In addition, it offers neostigmine methylsulfate injection to treat myasthenia gravis and to reverse the effects of muscle relaxants; and Isoproterenol hydrochloride injection for mild or transient episodes of heart block. Further, the company distributes recombinant human insulin active pharmaceutical ingredients (API) and porcine insulin API. It serves hospitals, care facilities, alternate care sites, clinics, and doctors' offices. The company was founded in 1996 and is headquartered in Rancho Cucamonga, California.

Understand Amphastar Pharmaceuticals, Inc.: how it makes money

Amphastar Pharmaceuticals develops, manufactures, and sells generic and proprietary injectable, inhalation, and intranasal drugs, in the US, China, and France, and it earns money from product sales through finished pharmaceutical products and its API segment.

Amphastar’s profit engine is the sale of finished pharmaceutical products (generic and proprietary drugs such as Primatene Mist, Paximi/Baximi, and other injectables), with the API segment functioning as a separate business line.

Revenue by segment (latest quarter)
Finished$0.2B
API$0.0B

Business quality (Weak): Segment information is clear (Finished Pharmaceutical Products and API), but the API segment revenue appears at 0.0 in the provided data, and the set of operating KPIs provided does not include a single broad, widely standardized operational measure like demand volume or retention.

Valuation: At 12× earnings, AMPH trades 28% below the Pharmaceutical Products average (17×). Note: one-time items can distort reported P/E.

Bull case

  • Broad product mix across multiple acute-care and emergency-use categories: Products listed include Primatene Mist (epinephrine inhalation), Enoxaparin (DVT prevention and treatment), Naloxone (opioid overdose), and Glucagon (emergency kit).
  • Manufacturing and regulatory readiness signals: The company reports Drug Master Files On File with the Federal Drug Administration (17).
  • International market presence: The company lists an International Footprint Countries count of 26.

Bear case

  • API segment does not contribute to revenue in the provided data: API-related revenue entries provided (including Insulin API Business Revenue and Active Pharmaceutical Ingredient API Net Revenue) are 0.0, which suggests limited contribution from the API segment in the latest dataset.
  • Key product KPIs provided are small in absolute terms: Enoxaparin Net Product Revenue (0.01), Paximi Revenues (0.04), and Baximi Net Product Revenue Shipped Directly to Customers (0.03) are each small relative to total revenue (0.2B) in the provided figures, implying variability across individual products could matter.
Valuation — source: SEC EDGAR (first-party)
Price$21.60
Market Cap$952.41M
P/E Ratio15.7
EV / EBITDA5.3
Price / Book1.24
Price / Sales1.33
FCF Yield26.7%
DCF Value (model)$32.76
DCF Upside vs Price51.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$719.89M
Net Margin13.6%
Revenue Growth (YoY)-1.7%
EPS Growth (YoY)-36.2%
FCF Growth (YoY)-29.7%
Financial Health — source: SEC EDGAR
Altman Z-Score2.35 (grey)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E15.7
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
vs Sector-27.6%
vs Industry-8.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($106.20M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOYongfeng Zhang
Employees2,028
CountryUS
IPO Date2014-06-25

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AMPH earnings history · AMPH institutional & insider holders · AMPH KPIs & operating metrics · AMPH financials · AMPH investor presentations & press releases · AMPH SEC filings · AMPH peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.