5 Cheap Healthcare Stocks To Invest In

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

Price as of October 3: $28.40

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) is a diversified pharmaceutical company that mainly focuses on inhalation and intranasal products for a wide range of health problems. The company also manufactures and sells injectables, biosimilars, complex generic, and proprietary products. As of October 3, the company stock price is up by 23.10% on a YTD basis.

Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) is one of the best health care stocks due to its strong financial performance and future growth prospects. Since Q3 2020, the company’s revenue has grown at 7.7% quarterly and EPS recorded a 37% growth. Furthermore, the company has 12 Abbreviated New Drug Applications (ANDAs) in progress which provide the company with a revenue growth potential of over $14 billion. Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH)’s two drugs, generic ganirelix and vasopressin, have a total addressable market of $850 million and are forecasted to accelerate the company’s revenue growth by approximately 50%.

On July 29, Capital One analyst Tim Chiang initiated coverage of Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) with an Overweight rating and a $44 price target.