Needham & Company Downgrades AMAG Pharmaceuticals (AMAG) to Hold

Needham & Company downgraded AMAG Pharmaceuticals (NASDAQ: AMAG) from Buy to Hold.

Analyst Serge Belanger commented, "AMAG's recent update included prelim 4Q16 results, 2017 guidance, an update on Makena's auto-injector program and the acquisition of Rekynda for HSDD. Early data from Makena's auto-injector program revealed a higher (~25%) incidence of injection-related burning/stinging sensation. As a result, the comparative pain trial was discontinued and AMAG is no longer seeking orphan drug exclusivity for the program. While plans to file an sNDA based on PK data remain in place, we now question the value proposition of a Makena auto-injector product without a comparative pain advantage. The auto-injector is the key cog for the life-cycle management strategy of Makena, which is likely to see generic competition as soon as Feb 2018. We are downgrading to Hold."

For an analyst ratings summary and ratings history on AMAG Pharmaceuticals click here. For more ratings news on AMAG Pharmaceuticals click here.

Shares of AMAG Pharmaceuticals closed at $23.00 yesterday.

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