Amphastar price target lowered to $36 from $44 at BofA

BofA lowered the firm’s price target on Amphastar (AMPH) to $36 from $44 and keeps a Neutral rating on the shares following “inline” Q4 results and “soft” FY25 revenue guidance. The firm thinks contribution from high-value pipeline programs is unlikely in 2025 while some of the company’s higher margin businesses come under pressure. While Amphastar shares have pulled back considerably, the firm told investors that forward estimates have contracted over the last three quarters and visibility on the pipeline is low.