12:00 AM
Aug 02, 2010
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 7/30 cls
AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) Baird Christopher Raymond Downgrade Neutral (from market outperform) -17% $31.48
Leerink Joseph Schwartz Price target Market outperform
Raymond also lowered his target to $36 from $40 after AMAG's management said in its 2Q10 earnings call that it believes Feraheme ferumoxytol will likely play "a smaller role" in dialysis due to a CMS final rule establishing a bundled payment rate for dialysis services administered to end-stage renal disease (ESRD) patients. The iron replacement therapeutic is marketed in the U.S. to treat iron deficiency anemia (IDA) in patients with chronic kidney disease (CKD) (see BioCentury, May 24).
Schwartz lowered his target to $40 from $45. He lowered his FY11 revenue estimate to $127.7M from $171.1M due to changes in his model on the use of Feraheme outside the CKD indication. Last week, AMAG said enrollment for two Phase III trials of Feraheme in IDA of...

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