B.Riley FBR Reaffirms Their Hold Rating on Amag Pharmaceuticals

By Jason Carr

B.Riley FBR analyst David Buck maintained a Hold rating on Amag Pharmaceuticals (NASDAQ: AMAG) today and set a price target of $16. The company’s shares closed yesterday at $13.90, close to its 52-week low of $11.93.

Buck commented:

“We stay Neutral for now on AMAG shares and maintain a $16/share PT on valuation and the need to switch market share for Makena to the patented auto-injector subcutaneous injector. Nevertheless, AMAG shares should see some relief rally after being range bound over the past three months. On 2/14/18, AMC, AMAG announced FDA approval for the subcutaneous Makena auto-injector, representing a key catalyst, given an estimated 63% of 2017E sales came from Makena and orphan drug exclusivity expired earlier this month. Accordingly, generic Makena entry could occur at any point, although Makena does not expect generic entry to occur before midyear. AMAG expects to launch Makena auto-injector at pricing parity to earlier formulations with availability by the second half of March 2018.”

According to TipRanks.com, Buck is a 4-star analyst with an average return of 10.9% and a 62.8% success rate. Buck covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Supernus Pharmaceuticals, and Sucampo Pharmaceuticals.

Currently, the analyst consensus on Amag Pharmaceuticals is Moderate Buy and the average price target is $16, representing a 15.1% upside.

In a report issued on February 5, Piper Jaffray also maintained a Hold rating on the stock with a $15 price target.

Based on Amag Pharmaceuticals’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $154 million and GAAP net loss of $152 million. In comparison, last year the company earned revenue of $152 million and had a GAAP net loss of $10.56 million.

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AMAG Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the development and commercialization of a therapeutic iron compound to treat iron deficiency anemia. It focuses on the development and commercialization of Feraheme injection for intravenous or IV, use to treat iron deficiency anemia or IDA.