Stock Track | Amphastar Pharmaceuticals Plunges 14.68% in Pre-Market on Earnings Miss and Analyst Target Price Cut

Stock Track

02/27

Amphastar Pharmaceuticals' stock experienced a significant pre-market plunge of 14.68% on Friday, extending losses from the previous trading session.

The sharp decline follows the company's release of fourth-quarter financial results that fell short of analyst expectations. Amphastar reported adjusted earnings per share of $0.73, missing the consensus estimate of $0.92, while revenue of $183.11 million also came in below expectations.

Adding to the negative sentiment, Jefferies cut its price target on Amphastar Pharmaceuticals to $30 from $38. The combination of disappointing earnings performance and the analyst downgrade prompted the substantial sell-off in pre-market trading.

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