Overview

* Amphastar Pharma Q2 revenue of $174.4 mln beats analyst expectations, per LSEG data

* Adjusted EPS of $0.85 surpasses consensus, driven by strong BAQSIMI sales

* Co announces major infrastructure investment to expand manufacturing capacity

Outlook

* Company plans to quadruple manufacturing capacity at its headquarters

* Amphastar aims to mitigate international supply chain risks

* Company focuses on expanding U.S. manufacturing footprint

Result Drivers

* BAQSIMI SALES - 21% increase in BAQSIMI sales driven by higher unit volume, per CEO Jack Zhang

* INFRASTRUCTURE INVESTMENT - Largest domestic infrastructure investment announced to quadruple manufacturing capacity

* EPINEPHRINE COMPETITION - Decrease in epinephrine sales due to increased competition and suppliers returning to historical distribution levels

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $174.41 $173.30

Revenue mln mln (5

Analysts

)

Q2 Beat $0.85 $0.74 (6

Adjusted Analysts

EPS )

Q2 EPS $0.64

Q2 Beat $40.89 $37.50

Adjusted mln mln (6

Net Analysts

Income )

Q2 Net $31.03

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the pharmaceuticals peer group is "buy"

* Wall Street's median 12-month price target for Amphastar Pharmaceuticals Inc ( AMPH ) is $32.50, about 35.9% above its August 6 closing price of $20.82

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)