Pharmaceutical company Amphastar Pharmaceuticals (NASDAQAMPH) will be reporting results this Thursday after market close. Here’s what to look for.
Amphastar Pharmaceuticals beat analysts’ revenue expectations last quarter, reporting revenues of $183.9 million, up 5.4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates.
Is Amphastar Pharmaceuticals a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Amphastar Pharmaceuticals’s revenue to grow 2.2% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Amphastar Pharmaceuticals has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Amphastar Pharmaceuticals’s peers in the pharmaceuticals segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amneal delivered year-on-year revenue growth of 10%, beating analysts’ expectations by 6.3%, and Eli Lilly reported revenues up 38.6%, topping estimates by 7.9%. Eli Lilly traded up 9.8% following the results.
Read our full analysis of Amneal’s results here and Eli Lilly’s results here.
There has been positive sentiment among investors in the pharmaceuticals segment, with share prices up 2.8% on average over the last month. Amphastar Pharmaceuticals is up 7% during the same time and is heading into earnings with an average analyst price target of $22.50 (compared to the current share price of $27.14).
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