Needham & Company Reiterates Hold Rating on Amphastar Pharmaceuticals (AMPH)

Needham & Company analyst Serge Belanger reiterated a Hold rating on Amphastar Pharmaceuticals (NASDAQ: AMPH), following the company's Q4 report.

The analyst quotes: "Strong yr-end performances by Primatene Mist, epinephrine, and glucagon allowed AMPH to significantly outpace Street consensus estimates on both top- and bottom-lines. Primatene Mist 4Q21 sales of $21.5MM (+30%Q/Q) and $73.1MM for 4Q21 and 2021, respectively, came in above guidance. AMPH now expects Primatene sales to reach ~$100MM by 2024, which appears conservative given the product's most recent quarterly sales. Much of the investor focus on AMPH in 2022 will be on the ANDA pipeline, where 2-3 potential new ANDA approvals could begin making top-line contributions in 2H22. We maintain our Hold rating based on a valuation (+31% YTD, vs. NBI's -17%, BTK's -11% and XBI's -21%) that we believe adequately captures the value of the current product portfolio and near-term ANDA approvals."

For an analyst ratings summary and ratings history on Amphastar Pharmaceuticals click here. For more ratings news on Amphastar Pharmaceuticals click here.

Shares of Amphastar Pharmaceuticals closed at $30.47 yesterday.

By Vlad Schepkov | [email protected]

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