Morgan Stanley has issued an Equal-Weight Rating and $17 PT for AMAG Pharmaceuticals AMAG.
Morgan Stanley writes, "We are assuming coverage of AMAG with an EW rating and $17 PT. Feraheme, an intravenous iron (IVFe) approved in ‘09 to treat iron deficiency anemia (IDA) associated with chronic kidney disease (CKD), is AMAG's sole value driver. We model ~$130mn peak US Feraheme sales. Feraheme faces a number of growth hurdles going forward, and until we see a sig. inflection in sales, we would remain on the sidelines."
AMAG closed at $17.11 yesterday.
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