In a report released today, William Tanner from Cantor Fitzgerald reiterated a Hold rating on Amag Pharmaceuticals (NASDAQ: AMAG), with a price target of $18. The company’s shares closed yesterday at $23.20.
Tanner commented:
“: We reiterate the Neutral rating and adjust our PT to $18 (from $17) for AMAG stock. With the commercial potential of Intrarosa still unproven and the approvability of bremelanotide unknown, we believe investors will view the Makena franchise as the most significant supporter of share price value, particularly now that the CBR business is being divested. We suppose a bullish outlook could prevail over the near- to intermediate-term if Makena holds its own and no evidence emerges that Intrarosa or bremelanotide could disappoint expectations. We believe that the set up for 2019 has to be decidedly positive for the stock to perform well over the next 12-18 months absent, of course, transformational business activities.”
According to TipRanks.com, Tanner is a 3-star analyst with an average return of 1.7% and a 44.3% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
The word on The Street in general, suggests a Hold analyst consensus rating for Amag Pharmaceuticals with a $23.40 average price target, implying a 0.9% upside from current levels. In a report released yesterday, Piper Jaffray also maintained a Hold rating on the stock with a $22 price target.
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The company has a one-year high of $25.63 and a one-year low of $11.93. Currently, Amag Pharmaceuticals has an average volume of 750.1K.
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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.
