12 Best Small Cap Pharma Stocks to Buy Now

9. Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)

Number of Hedge Fund Holders: 23

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) is a biopharmaceutical company that specializes in the development, manufacturing, marketing, and sale of generic and proprietary injectable, inhalation, and intranasal products.  The company operates primarily in the United States, China, and France.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) announced net revenues of $191.2 million in Q3 2024, a 6% year-over-year increase. The company attributed this growth to the launch of Albuterol MDI, Baqsimi ($40.4 million), and Primatene Mist ($26.1 million). The company intends to increase the Baqsimi market and bolster its sales team, and Primatene Mist is on course to reach $100 million in yearly sales by the end of 2024.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) earned $60 million in cash flow and repurchased $35 million worth of shares, despite a decline in adjusted net income to $49.6 million ($0.96 per share) as a result of lower gross margins (53% vs. 60% in 2023) and higher operating expenses. Additionally, a $50 million share buyback program was launched by Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH). Future expansion is anticipated to be fueled by ongoing negotiations with the FDA over its insulin pipeline, reinforcing its position among the best pharmaceutical stocks.

As of Q4 2024, 23 hedge funds held stakes in Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH), as tracked by the Insider Monkey database.