What Happened?

Shares of pharmaceutical company Amphastar Pharmaceuticals (NASDAQAMPH) jumped 10.9% in the afternoon session after the stock's positive momentum continued as the company reported third-quarter financial results that surpassed analyst expectations. Amphastar posted revenue of $191.8 million and adjusted earnings of $0.93 per share, beating Wall Street's consensus estimates. The strong performance was reportedly driven by robust sales of its products Baqsimi and Primatene Mist. Following the results, analyst firm Needham maintained its 'Buy' rating on the company's stock but lowered its price target to $34 from $36.

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What Is The Market Telling Us

Amphastar Pharmaceuticals’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. But moves this big are rare even for Amphastar Pharmaceuticals and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 3 days ago when the stock gained 4.9% on the news that the company reported third-quarter 2025 financial results that surpassed analyst expectations. The pharmaceutical company posted revenue of $191.8 million, beating Wall Street's consensus estimate of $184.5 million. Its adjusted earnings per share of $0.93 also came in ahead of expectations of $0.83. While revenue was flat compared to the same period last year and operating margins declined, investors appeared to focus on the company's ability to outperform analyst forecasts on both the top and bottom lines.

Amphastar Pharmaceuticals is down 27.7% since the beginning of the year, and at $26.30 per share, it is trading 45.8% below its 52-week high of $48.57 from November 2024. Investors who bought $1,000 worth of Amphastar Pharmaceuticals’s shares 5 years ago would now be looking at an investment worth $1,330.

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