Guggenheim Assumes AMAG Pharmaceuticals (AMAG) at Buy; Makena Ascribed Very Little Value
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Guggenheim assumes coverage on AMAG Pharmaceuticals (NASDAQ: AMAG) with a Buy rating and a price target of $42.00, saying the market is ascribing very little value to Makena.
Analyst Brandon Folkes commented, "At current levels, we believe the market ascribes very little value to Makena (for pre-term birth) post '18. We believe the current share price creates a compelling risk/reward profile, with the potential for significant upside once the Makena generic overhang is removed, and business development further diversifies the company's revenue streams. We model generic erosion on Makena from '18 given the large Medicaid market; however, we believe the Makena franchise will continue to generate meaningful revenues for the company post '18, driven by the Sub-Q."
Shares of AMAG Pharmaceuticals closed at $25.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Union Pacific (UNP) PT Raised to $120 at Aegis Capital Following Solid 4Q
- Instinet (Nomura) Downgrades Silicon Motion Technology (SIMO) to Neutral
- Drexel Hamilton Reiterates Buy on IBM (IBM) Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, FDA, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!