UPDATE: Ladenburg Thalmann Upgrades AMAG Pharmaceuticals to Buy
Ladenburg Thalmann has published a research report on AMAG Pharmaceuticals (NASDAQ: AMAG) 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.
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