Amphastar Sees Price Target Cut to $30, FDA Grants 180-Day Exclusivity
Amphastar Pharmaceuticals saw its price target cut to $30 from $34 by Wells Fargo, which kept an overweight rating. The firm expects AMP-007 to drive mid- to high-single-digit revenue growth and highlighted FDA approval of a generic Ipratropium Bromide HFA inhalation aerosol that grants 180 days of market exclusivity.
1. Wells Fargo Price Target Revision
Wells Fargo lowered its Amphastar Pharmaceuticals price target to $30 from $34 while maintaining an overweight rating, reflecting reduced sales projections despite recent regulatory approvals.
2. AMP-007's Role in Growth Forecasts
The firm projects that AMP-007's market performance will be critical to achieving mid- to high-single-digit revenue growth, making its uptake a key driver of Amphastar's future sales trajectory.
3. FDA Approval and 180-Day Exclusivity
The FDA approved Amphastar's ANDA for Ipratropium Bromide HFA inhalation aerosol, 17 mcg per actuation, as bioequivalent to the branded product and granted 180 days of market exclusivity as the first Paragraph IV filer, with exclusivity starting upon commercial launch.