Company

Bank

Analyst

Coverage

Opinion

Wk chg

5/18 cls

AMAG Pharmaceuticals Inc. (NASDAQ:AMAG)

Ladenburg Thalmann

Juan Sanchez

Upgrade

Buy (from neutral)

-1%

$13.14

Sanchez set a $15 target, saying he believes AMAG is undervalued. He estimates iron replacement therapy Feraheme ferumoxytol could be valued at $114-$126M by applying a 2x multiple of revenues to his 2012 or 2013 projections. Thus, Sanchez said AMAG could be "conservatively" valued at $317-$332M, or $13.60-$14.30 per share after adding in estimated cash, by the end of 2013.

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)

Summer Street

Ling Wang

Price target

Buy

-6%

$15.98

Wang raised her target to $21 from $16 after factoring in the value of AP26113, which she believes has potential to become a front- or second-line anaplastic lymphoma kinase (ALK)-targeting therapy for non-small cell lung cancer (NSCLC). Wang anticipates preliminary data as early as next quarter for the dual inhibitor of ALK and epidermal growth factor receptor (EGFR) from a Phase I/II trial in NSCLC. She estimates peak global sales of about $2.7B for AP26113.