Goldman Sachs Starts AMAG Pharmaceuticals (AMAG) at Neutral, Agrees with Management's New Plans

Goldman Sachs initiates coverage on shares of AMAG Pharmaceuticals (NASDAQ: AMAG) with a Neutral rating and $20 price target.

The firm notes the company's key growth driver Feraheme, an IV iron product launched in 2009 for iron deficient anemia, has been under performing analysts expectations. Goldman only forecasts Feraheme will generate $100 million in total sales by 2015.

Goldman believes managements announcement of a new restructuring program and process to explore strategic alternatives is the right move to maximize value and profitability.

For FY11 and FY12, Goldman estimates EPS of ($3.71) and ($0.02) on $62.1 million and $102.4 million in total sales. For FY13, the firm forecasts EPS of ($0.17) on $76.6 million in sales.

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 $19.05 yesterday.

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