Cantor Fitzgerald analyst William Tanner reiterated a Hold rating on Amag Pharmaceuticals (NASDAQ: AMAG) today and set a price target of $18. The company’s shares opened today at $21.80.
Tanner said:
“: We reiterate the Neutral rating and $18 PT for AMAG shares. We believe the next 12-18 months will be important insofar as having some ability to gauge the revenue potential for the Makena franchise in the face of generic competition. Almost irrespective of how the competitive market unfolds, we view successful development and commercialization of additional assets as a major determining factor in how investors perceive the stock’s longer-term price performance.”
According to TipRanks.com, Tanner is a 3-star analyst with an average return of 3.0% and a 50.3% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Aquinox Pharmaceuticals.
Amag Pharmaceuticals has an analyst consensus of Hold, with a price target consensus of $23, implying a 5.5% upside from current levels. In a report issued on September 12, Jefferies also maintained a Hold rating on the stock with a $21 price target.
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Based on Amag Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $20.08 million. In comparison, last year the company had a GAAP net loss of $14.07 million.
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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.
