Cantor Fitzgerald analyst William Tanner reiterated a Hold rating on Amag Pharmaceuticals (NASDAQ: AMAG) today and set a price target of $17. The company’s shares opened today at $21.25, close to its 52-week high of $22.25.
Tanner said:
“Makena Care Connection an important driver of conversion. AMAG management provided data (slide 8 from earnings slide deck) suggesting that there has been significant increase in the selection of the auto-injector for women enrolled in the Makena Care Connection (MCC) program. Specifically, in the most recent week for which data are available, 47% and 53% of enrollments were for the auto-injector or intramuscular (IM) formulations, respectively. By comparison, for the last week of March, 14% of enrollments were for the auto- injector. Note that the Makena prescription form for the MCC contains a section (Step 5) in which the route of administration is selected. AMAG noted to us that not 100% of women who enroll in MCC will ultimately receive the drug but they view the trends as diectionally encouraging.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 6.5% and a 48.1% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
Amag Pharmaceuticals has an analyst consensus of Hold, with a price target consensus of $21.
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The company has a one-year high of $22.25 and a one-year low of $11.93. Currently, Amag Pharmaceuticals has an average volume of 1.19M.
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AMAG Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the development and commercialization of a therapeutic iron compound to treat iron deficiency anemia. It focuses on the development and commercialization of Feraheme injection for intravenous or IV, use to treat iron deficiency anemia or IDA.
