Pharmaceutical company Amphastar Pharmaceuticals (NASDAQAMPH) will be reporting results this Thursday after market hours. Here’s what to look for.
Amphastar Pharmaceuticals missed analysts’ revenue expectations last quarter, reporting revenues of $171.2 million, flat year on year. It was a disappointing quarter for the company, with a significant miss 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 3.4% year on year, a reversal from the 4.4% decrease it recorded 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 Q2 results, giving us a hint as to what we can expect. Amneal delivered year-on-year revenue growth of 9.9%, beating analysts’ expectations by 3.6%, and Bristol-Myers Squibb reported revenues up 5.7%, topping estimates by 12.9%. Amneal traded down 4.1% following the results while Bristol-Myers Squibb was up 3.5%.
Read our full analysis of Amneal’s results here and Bristol-Myers Squibb’s results here.
Investors in the pharmaceuticals segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Amphastar Pharmaceuticals’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $22 (compared to the current share price of $19.55).
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