UPDATE: Ladenburg Thalmann Upgrades AMAG Pharmaceuticals to Buy

Ladenburg Thalmann has published a research report on AMAG Pharmaceuticals

and has upgraded the company from Neutral to Buy based on valuation. In the report, Ladenburg Thalmann writes, "In essence, despite our view that Feraheme does not represent a great business for AMAG, we believe the Company is undervalued at these levels. Our valuation method which renders a 12 month PT of $15.00 (Table on next page) does give some credit to the potential impact of label expansion but takes a conservative approach to valuing cash (we use cash by YE-2013) and uses conservative revenue multiples (2.0x)." Ladenburg Thalmann has established a $15 price target on AMAG Pharmaceuticals, which is currently trading up $0.62 from yesterday's $12.54 closing price.