July 29 (Reuters) - Shares of AMAG Pharmaceuticals Inc fell as much as 18 percent to a year-low Thursday, a day after the biopharmaceutical company posted a wider-than-expected quarterly loss on higher expenses.
'While still positively inclined to this story long term, we see commercial hurdles increasing for Feraheme (AMAG's anemia drug) over the next several quarters,' Robert W. Baird & Co analyst Christopher Raymond said in a note.
Raymond downgraded AMAG shares to 'neutral' from 'outperform.'
On Wednesday, the company reported second-quarter revenue of $18.8 million, including $16 million of Feraheme sales.
'At the moment, we believe current valuation is adequate and reflects uncertainty surrounding the market opportunity in the ex-dialysis segment (near and long term) and long-term pricing tends,' said Ladenburg Thalmann & Co analyst Juan Sanchez.
Sanchez, who downgraded AMAG shares to 'neutral' from 'buy,' however, expects Feraheme to be a widely adopted therapy for the treatment for iron-deficiency anemia.
Shares of the company were down 16 percent at $30.25 Thursday morning on Nasdaq. They earlier touched a low of $29.58.
(Reporting by Anand Basu in Bangalore; Editing by Unnikrishnan Nair) Keywords: AMAG/SHARES (anand.basu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:anand.basu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'While still positively inclined to this story long term, we see commercial hurdles increasing for Feraheme (AMAG's anemia drug) over the next several quarters,' Robert W. Baird & Co analyst Christopher Raymond said in a note.
Raymond downgraded AMAG shares to 'neutral' from 'outperform.'
On Wednesday, the company reported second-quarter revenue of $18.8 million, including $16 million of Feraheme sales.
'At the moment, we believe current valuation is adequate and reflects uncertainty surrounding the market opportunity in the ex-dialysis segment (near and long term) and long-term pricing tends,' said Ladenburg Thalmann & Co analyst Juan Sanchez.
Sanchez, who downgraded AMAG shares to 'neutral' from 'buy,' however, expects Feraheme to be a widely adopted therapy for the treatment for iron-deficiency anemia.
Shares of the company were down 16 percent at $30.25 Thursday morning on Nasdaq. They earlier touched a low of $29.58.
(Reporting by Anand Basu in Bangalore; Editing by Unnikrishnan Nair) Keywords: AMAG/SHARES (anand.basu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:anand.basu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.