Leerink Swann Upgrades AMAG Pharmaceuticals (AMAG) to Outperform

January 18, 2013 8:20 AM EST Send to a Friend
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Price: $18.95 -0.73%

Rating Summary:
    7 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 43 | Down: 33 | New: 14
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Leerink Swann upgraded AMAG Pharmaceuticals (NASDAQ: AMAG) from Market Perform to Outperform with a price target of $19.00 (from $17.00).

The firm comments, "We are upgrading AMAG to Outperform as we believe that Feraheme sales expectations are now achievable. The company has been restructured to a leaner operation, and we expect AMAG to achieve cash flow breakeven in 2H14 on solid double digit top-line growth. Label expansion for Feraheme in 2H13 in the US and 2014 in Europe are potential sources of upside and significant future milestone payments from Takeda could bolster the company's strong balance further, providing additional financial flexibility should suitable business development opportunities emerge. We are adjusting our estimates to incorporate recently provided 2013 guidance. Raising fair value estimate to $19 from $17 previously.

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 $15.45 yesterday.




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