Jefferies analyst Eun Yang views the recent pullback in shares of AMAG Pharmaceuticals as a buying opportunity. Investors were disappointed by the Abbreviated New Drug Application approval for Delalutin by McGuff, Yang tells investors in a research note. However, the current valuation of AMAG implies no/very little success in its line-extension strategy for Makena beyond orphan exclusivity expiry in Feb. 2018, the analyst writes. Further, a meeting with management suggests a meaningful impact on Makena sales from generic Delalutin approval is unlikely, Yang adds. The analyst keeps a Buy rating on AMAG with an $80 price target.