Barclays Downgrades Amag Pharmaceuticals After 130% Rally From Lows

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.


Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.