Amphastar Pharmaceuticals (AMPH) has quietly bounced about 3% over the past week and roughly 5% over the past month, even as its year to date return remains down sharply.

That recent 1 month share price return of about 5% looks more like a tentative stabilisation than a full trend change. The share price is still down sharply on a year to date basis and the 1 year total shareholder return remains negative, suggesting sentiment is improving from low levels rather than turning outright bullish.

If Amphastar has you watching healthcare names more closely, it could be a good moment to explore other potential opportunities across healthcare stocks and see how they stack up.

With modest growth, a pullback of nearly 25% year to date, and shares still trading below analyst targets, Amphastar looks more paused than broken. Does this weakness signal a potential opportunity, or has the market already priced in its future growth?

Most Popular Narrative Narrative: 14.6% Undervalued

With Amphastar closing at $27.32 against a narrative fair value of $32.00, the story frames today’s pullback as a potential pricing mismatch.

The analysts have a consensus price target of $32.0 for Amphastar Pharmaceuticals based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of $38.0, and the most bearish reporting a price target of just $25.0.

Curious how modest revenue growth, slightly slimmer margins, and a higher future earnings multiple still add up to upside from here? The full narrative unpacks those moving parts in detail, including how projected earnings, share count shifts, and a specific discount rate all interact to support that fair value.

Result: Fair Value of $32 (UNDERVALUED)

However, Amphastar's expanding U.S. manufacturing footprint and growing proprietary pipeline could support higher margins and diversification, which may challenge a purely cautious valuation view.

Build Your Own Amphastar Pharmaceuticals Narrative

If you see the story differently or want to dig into the numbers yourself, you can build a personalised Amphastar view in just a few minutes: Do it your way.

A great starting point for your Amphastar Pharmaceuticals research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.