AMAG Pharmaceuticals Inc. (AMAG) develops superparamagnetic iron oxide nanoparticles for use in pharmaceutical products. The company’s focus is on developing IV iron replacement therapy for anemia in chronic kidney disease and imaging agent to aid in diagnosis.
The company filed the NDA for its lead drug Feraheme in December 2007, and the drug was approved by the FDA on June 30, 2009. Clinical data in over 1,700 patients indicate an excellent safety profile for the drug with lower incidents of heart problems.
Clinical results and eventual approval for additional indications should ensure strong growth in the coming years. We maintain our Buy rating on the shares of AMAG with a target price of $62.Zacks Investment Research
