Stock Track | Amphastar Pharmaceuticals Plummets 22.72% Intraday on Q1 Earnings Miss, Lower Prices, Higher Costs and Analyst Downgrade

Stock Track
May 08

Amphastar Pharmaceuticals' stock plummeted 22.72% intraday on Friday, following a significant pre-market decline.

The sharp drop comes after the company reported disappointing first-quarter financial results that missed analyst expectations. Adjusted earnings per share of $0.42 fell well short of the $0.71 consensus estimate, while revenue of $171.17 million also missed expectations. The earnings miss was driven by lower average selling prices for key products including BAQSIMI, glucagon, phytonadione, and epinephrine, which reduced gross margin. Higher manufacturing expenses from facility expansion and increased research & development costs further pressured profitability.

Adding to the negative sentiment, Needham downgraded Amphastar Pharmaceuticals from Buy to Hold, contributing to the stock's downward movement during the trading session.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10