Pharmaceutical company Amphastar Pharmaceuticals (NASDAQAMPH) will be reporting results tomorrow after market hours. Here’s what to expect.
Amphastar Pharmaceuticals missed analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $186.5 million, up 2.9% year on year. It was a softer quarter for the company, with a miss of analysts’ EPS estimates.
Is Amphastar Pharmaceuticals a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Amphastar Pharmaceuticals’s revenue to grow 1.2% year on year to $173.9 million, slowing from the 22.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.69 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Amphastar Pharmaceuticals has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Amphastar Pharmaceuticals’s peers in the pharmaceuticals segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Amneal delivered year-on-year revenue growth of 5.5%, missing analysts’ expectations by 3.4%, and Bristol-Myers Squibb reported a revenue decline of 5.6%, topping estimates by 3.9%. Amneal traded down 2.4% following the results while Bristol-Myers Squibb was also down 1.3%.
Read our full analysis of Amneal’s results here and Bristol-Myers Squibb’s results here.
There has been positive sentiment among investors in the pharmaceuticals segment, with share prices up 4.4% 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 $38 (compared to the current share price of $25.12).
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