AMAG Pharma (AMAG): Low Expectations Shift The Risk Reward To The Upside - Jefferies
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Jefferies analyst, Eun Yang, reiterated her Buy rating on shares of AMAG Pharmaceuticals (NASDAQ: AMAG) noting that the Makena franchise (~60% of current revenue) has been disappointing since 3Q15 on missed sales/delays in line-extension strategies. The current share price abundantly reflects such frustration and assumes that Makena & Feraheme sales are going to zero following 02/18 & 06/23 exclusivity expiry. That may turn out to be the case or it may take a while for AMAG to regain investors' confidence but the analyst thinks that the risk/reward seems skewed to the upside .
The price target drops to $45.00 from $58.00 but reflects substantial upside from the current price of $25.51.
Shares of AMAG Pharmaceuticals closed at $22.31 yesterday.
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