In a report released today, Matthew Lillis from Cantor Fitzgerald reiterated a Hold rating on Amag Pharmaceuticals (AMAG), with a price target of $14. The company’s shares closed yesterday at $12.81, close to its 52-week low of $10.70.
Lillis observed:
“: We reiterate our Neutral rating and are lowering our PT to $14 from $17. Failure of the post-approval Makena trial is a clear setback for the company. We suspect investors may be increasingly drawn to the stock as one to own given the subsequent devaluation, but that longer-term investing requires some framing of the commercial impact. We believe the trial result reinforces the importance of the next 12-18 months for AMAG to demonstrate that existing and pipeline assets can adequately replace lost Makena revenue.”
According to TipRanks.com, Lillis is a 3-star analyst with an average return of 7.8% and a 70.0% success rate. Lillis covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Supernus Pharmaceuticals, and Evofem Biosciences Inc.
Currently, the analyst consensus on Amag Pharmaceuticals is a Moderate Buy with an average price target of $15.83, implying a 23.6% upside from current levels. In a report issued on March 8, Piper Jaffray also maintained a Hold rating on the stock with a $13 price target.
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The company has a one-year high of $26.10 and a one-year low of $10.70. Currently, Amag Pharmaceuticals has an average volume of 736K.
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AMAG Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the research, development, and commercialization of a therapeutic iron compound to treat iron deficiency anemia. The firm focuses on the development and commercialization of Feraheme injection for intravenous use to treat iron deficiency anemia.
