UPDATE: Baird Upgrades AMAG Pharmaceuticals (AMAG) to Outperform, Raises Price Target to $22,

Baird is upgrading its rating on shares of AMAG Pharmaceuticals (NASDAQ: AMAG) to an Outperform rating from its previous rating of Neutral and is raising its price target from $19 to $22.

The firm believes that it has been on the sidelines long enough and feels that shares have bottomed. The stock closed on May 27 at $16.80 and the firm comments that they would be buyers of the stock up into the low $20 range.

Expectations for the company to outperform expectation is low overall as the company has missed consecutively over the past quarters.

The company's reps still rank the highest across virtually all efficacy metrics and while AMAG reconstitutes its promotional efforts, the firm like its dynamic’s potential for increasing Feraheme utilization.

An analyst at Baird comments, "last week’s April WKH data showed Feraheme up 12% month over month. This was largely presaged on the quarter (management highlighted IMS data showing Feraheme flat M-M despite March being a five-week month), but still encouraging."

For more ratings news on AMAG Pharmaceuticals click here and for the rating history of AMAG Pharmaceuticals click here.

Shares of AMAG Pharmaceuticals closed at $16.80 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Freedom Broker Upgrades Serve Robotics (SERV) to Buy
• Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)