Credit and interest ratesnegative · 4 filings
“This was partially offset by $1.6 million of net proceeds from borrowings on our line of credit in China.”10-Q · May 7, 2026 ↗
Amphastar Pharmaceuticals, Inc.
AMPH
Market read
Amphastar Pharmaceuticals, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 19 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Company+2.6% todayVolume comparison unavailable
Market group0 of 19 activeInsurance and Utilities · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- AMPH's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if AMPH's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 19 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 8 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- AMPH's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements109
Verified relationships9
Evidence supporting the case
- Operating cash flow covered net income at 1.59x in the latest annual period.
- Product pipeline and R&D has repeated favorable evidence across 4 filings.
- Supply chain and availability has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Latest annual revenue changed -1.7% year over year.
- Operating margin changed -8.6 percentage points in the latest annual period.
- Net margin changed -8.2 percentage points in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 4 filings.
- Pricing and mix has repeated adverse evidence across 4 filings.
- Input and raw-material costs has repeated adverse evidence across 3 filings.
- Labor availability and costs has repeated adverse evidence across 3 filings.
Questions before a position
- P/E is 53% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
23.546m+16.4%12m-22.8%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$437.8M+25.1%$1.25+1.3%
2022-12-31$499.0M+14.0%$1.74+5.3%
2023-12-31$644.4M+29.1%$2.60+1.1%
2024-12-31$732.0M+13.6%$3.06-1.8%
2025-12-31$719.9M-1.7%$2.03-7.4%
What management says matters
Persistent and emerging business drivers
Demand and volumenegative · 4 filings
“An increase in API sales and an increase in dextrose sales as a result of an increase in demand caused by other supplier shortages, also - 33 - Table of Contents positively impacted sales.”10-Q · May 7, 2026 ↗
Pricing and mixnegative · 4 filings
“Historically, our backlog has not been a meaningful indicator in any given period of our ability to achieve any particular level of overall revenue or financial performance.”10-Q · May 7, 2026 ↗
Product pipeline and R&Dpositive · 4 filings
“We expect that research and development expenses will increase on an annual - 34 - Table of Contents basis due to increased clinical trials costs related to our proprietary, insulin and inhalation product candidates.”10-Q · May 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.6× · EV/sales 2.2×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
23.65+2.6% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 12:50 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for AMPH. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for AMPH. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind AMPH
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MNKDMannKind CorporationpartnerFeb 26, 2026 ▾
“arily related to the expansion of our sales and marketing efforts related to BAQSIMI ® , including expenses related to our co-promotion contract with MannKind, and sales efforts related to Primatene MIST ® .”
AWIArmstrong World Industries, Inc.partnerFeb 26, 2026 ▾
“Companies we have acquired include, amongst others, (1) International Medication Systems, Limited, or IMS, (2) Armstrong Pharmaceuticals, Inc., or Armstrong, (3) Nanjing Puyan Pharmaceutical Technology Co., Ltd.”
Depended on by
HALOHalozyme Therapeutics, Inc.competitorFeb 17, 2026 ▾
“The competitors for Hylenex recombinant include, but are not limited to, Amphastar Pharmaceuticals, Inc.’s product, Amphadase ® , a bovine (bull) hyaluronidase.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
AMPH is currently a Leader in the organic co-movement group Insurance and Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for AMPH; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.