Barclays analyst Balaji Prasad downgraded Amag Pharmaceuticals (AMAG) to Equal Weight from Overweight with an unchanged price target of $10.
The stock closed Monday up 32c to $10.89.
The analyst cites valuation for the downgrade saying the stock's 130% rebound from the March lows yields limited upside potential. The combination of limited near term catalysts and the price being reached drive the downgrade, Prasad tells investors in a research note.
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