Amphastar Pharmaceuticals (AMPH)
Maker of technically demanding generic and branded injectable, inhalation, and intranasal drugs.
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Built by scientist-founders who still run daily operations, the business makes technically demanding generic and proprietary injectable, inhalation, and intranasal drugs, anchored by an intranasal glucagon emergency treatment and the only over-the-counter epinephrine asthma inhaler cleared in the US.
Built since 1996 by a pair of scientist-founders who still run day-to-day operations, the business specializes in technically demanding generic and proprietary injectable, inhalation, and intranasal drugs, categories that reward manufacturing and analytical complexity most competitors avoid.
The product lineup spans more than two dozen prescription and over-the-counter medicines, anchored by an intranasal glucagon emergency treatment, an epinephrine inhaler that is the only over-the-counter asthma option cleared in the US, and a nasal naloxone spray. Operations are reported as a single pharmaceutical products segment.
Active ingredient production in China and France feeds finished-dose manufacturing across California and Massachusetts, keeping the supply chain largely in-house. A 2023 purchase of a branded glucagon franchise from a global drugmaker shifted the portfolio from a generics-heavy mix toward a branded-and-generic hybrid.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 18, 2026 | Barclays | Reiterate | Rating: —Target: $20 | Target: $23 |
| Jun 29, 2026 | Bank of America Securities | Downgrade | Rating: — | |
| Jun 29, 2026 | B of A Securities | Downgrade | ||
| Jun 3, 2026 | Barclays | Reiterate | Rating: —Target: $30 | Target: $20 |
| May 14, 2026 | Wells Fargo | Downgrade | Target: — | Target: $19 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $290.1M · Total debt $688.3M · Total assets $1.74B · Shareholders' equity $768.2M
- Revenue
- $183.9M
- Operating income
- $39.7M
- Net income
- $30.3M
No dividends on record.
| Institutions | 67.32% | 28.64M shares | |
|---|---|---|---|
| 215 holders · as of Jun 30, 2026 | |||
| Insiders | 32.84% | 13.97M shares | |
| 12 holders · as of Sep 17, 2026 | |||
| Adds to | 100.16% | ||
42.54M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 100.16%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Jack Y. Zhang1Insiderdirector, 10 percent owner, officer: CEO & CHIEF SCIENTIFIC OFFICER | 30.92% | 12.52M | filed Mar 17, 2026 |
BlackRock, Inc.Institution | 12.28% | 5.22M | as of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 5.42% | 2.31M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.86% | 1.64M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.48% | 1.48M | as of Jun 30, 2026 |
- Jack Y. Zhang's transaction reports restate only vehicles that traded; the 2025 ownership statement (12.52M) plus the 630.0K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | Rong Zhou | officer: SENIOR EVP, PRODUCTION CENTER | −10,000 | $23.94 |
| Sep 2, 2026 | Rong Zhou | officer: SENIOR EVP, PRODUCTION CENTER | −3,187 | $23.63 |
| Aug 11, 2026 | Richard K. Prins | director | −7,973 | $20.30 |
| Aug 7, 2026 | William J. Peters | director, officer: CFO, EVP & TREASURER | −8,180 | $22.48 |
| Dec 17, 2025 | Rong Zhou | officer: SENIOR EVP, PRODUCTION CENTER | −9,787 | $26.20 |
- Emergent BioSolutions
NARCAN and Kloxxado dominate naloxone nasal spray, competing with REXTOVY
- Xeris Biopharma
Ready-to-use Gvoke glucagon pen/syringe rivals BAQSIMI in hypoglycemia rescue
- Teva (ADR)
World's largest generic drugmaker, broad sterile injectables portfolio
- Pfizer
Largest US hospital generic sterile-injectables supplier, via Hospira brand
- Amneal Pharmaceuticals
US generics/specialty pharma with a sizable sterile-injectables franchise
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Amphastar Pharmaceuticals | $24.32 | −0.16% | $1.08B | 14.5 | 7.7 | 1.5 | +5.4% |
| Emergent BioSolutions | $6.86 | +1.63% | $338.0M | — | — | 0.4 | +66.3% |
| Xeris Biopharma | $8.73 | 0.00% | $1.52B | — | 46.9 | 4.5 | +27.2% |
| Teva (ADR) | $39.60 | +0.28% | $46.66B | 66.8 | 14.1 | 2.7 | −0.8% |
| Pfizer | $27.92 | −0.04% | $158.10B | 36.7 | 10.0 | 2.5 | +2.6% |
| Amneal Pharmaceuticals | $19.79 | +1.46% | $6.44B | 41.4 | 19.6 | 2.1 | +9.9% |
| Median | 41.4 | 16.8 | 2.5 | +9.9% |