AMAG Pharmaceuticals (AMAG) PT Raised 40% at Summer Street

October 24, 2013 2:51 PM EDT Send to a Friend
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Price: $44.62 +0.63%

Rating Summary:
    9 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 33 | New: 15
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Shares of AMAG Pharmaceuticals (NASDAQ: AMAG) are stronger Thursday after Summer Street Research analyst Carol Werther reiterated a Buy rating and ratcheted up her price target from $31 to $43 citing a strong Q3 inflection point.

"AMAG reported a strong 3Q13 and is cash flow positive," Werther noted. "Due to some stocking in 3Q13 as competitor Injectafer was approved in July, AMAG has guided to minimal Feraheme growth in 4Q13. AMAG expects to be cash flow neutral to slightly negative in 4Q13. We have adjusted our Feraheme sales higher to reflect the IDA label expansion. The PDUFA date is January 21, 2014."

The analyst said shares are "very undervalued" and the company is executing on Feraheme plan.

For an analyst ratings summary and ratings history on AMAG Pharmaceuticals click here. For more ratings news on AMAG Pharmaceuticals click here.

Shares of AMAG Pharmaceuticals closed at $22.98 yesterday.

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