In a report released yesterday, William Tanner from Cantor Fitzgerald reiterated a Hold rating on Amag Pharmaceuticals (NASDAQ: AMAG), with a price target of $17. The company’s shares closed yesterday at $21.80.
Tanner noted:
“: We reiterate our Neutral rating and $17 PT for AMAG stock. Detailed in this report is our preliminary assessment as to how our model and consensus expectations might change with the sale of CBR. AMAG anticipates providing updated 2018 guidance after the transaction closes, expected in 3Q18.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 11.5% and a 57.9% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
Currently, the analyst consensus on Amag Pharmaceuticals is Hold and the average price target is $23.25, representing a 6.7% upside.
In a report issued on June 15, Janney Montgomery also downgraded the stock to Hold with a $20 price target.
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Based on Amag Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $54.24 million. In comparison, last year the company had a GAAP net loss of $36.56 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.
