Amphastar initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of Amphastar (AMPH) with an Equal Weight rating and $55 price target The firm likes the setup heading into 2025, saying Amphastar could have 2-3 new launches over the next 12 months, “yet is trading as if there is no pipeline.” Amphastar has a solid commercial business and just a few pipeline wins could drive long-term growth, the analyst tells investors in a research note. Wells sees 20% upside in the shares as the company enters a new product cycle.