Wells Fargo initiated coverage of Amphastar Pharmaceuticals with an Equal Weight rating and a price target of $55. The firm noted a favorable setup heading into 2025, anticipating 2-3 new product launches over the next 12 months.
The analyst stated that Amphastar possesses a solid commercial business, and even a few pipeline wins could drive long-term growth. This perspective highlights the potential for future catalysts from the company's development pipeline.
Wells Fargo sees a potential for upside in the shares as the company enters a new product cycle. New analyst coverage, especially with a specific price target and positive outlook on the pipeline, can influence investor perception and market interest.
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