Down 15.4% in 4 Weeks, Here's Why Amphastar (AMPH) Looks Ripe for a Turnaround

Core Viewpoint - Amphastar Pharmaceuticals (AMPH) has experienced a significant decline of 15.4% in its stock price over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround as analysts expect better earnings than previously predicted [1] Group 1: Technical Indicators - The Relative Strength Index (RSI) is a key technical indicator used to determine if a stock is oversold, with readings below 30 indicating oversold conditions [2] - AMPH's current RSI reading is 27.23, indicating that the heavy selling pressure may be exhausting itself, which could lead to a reversal in the stock's trend [5] Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts regarding an increase in earnings estimates for AMPH, with a 0.3% rise in the consensus EPS estimate over the last 30 days, which typically correlates with price appreciation [7] - AMPH holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a near-term turnaround [8]