FDA approved Amphastar's ANDA for Iron Sucrose Injection, boosting market entry. Potential sales of $80 million to $100 million by targeting Venofer's market share. Analyst upgrade to Buy rating with a target price of $36 supports growth. Deal with Nanjing Anji may enhance future revenue from proprietary peptides. AMPH shares rose by over 9% following FDA approval and analyst upgrade.
Amphastar's revenue grew from $438M in 2021 to $593M in 2023. BAQSIMI is a key product for Amphastar, aiding growth prospects. Operating margin improved to 33.2% in 2023, indicating better profitability. AMPH's P/E ratio is 11.29, significantly lower than sector median. Company heavily depends on generic demand and single-source supplies.
