Drug will have modest sales, analyst says

AMAG Pharmaceuticals Inc. fell after a Jefferies and Co. analyst downgraded the stock, slashing her expectations for sales of AMAG’s iron-deficiency treatment, Feraheme. The FDA granted marketing approval for Feraheme on July 1. It’s used as an iron replacement for patients with chronic kidney disease. Eun Yang lowered her rating to “hold’’ and cut her price target to $44 per share, from $60. She said Feraheme appears to have only modest sales potential. Yang expects $74 million in Feraheme sales in 2010, down from her earlier projection of $97 million.