Janney Capital initiated AMAG Pharmaceuticals with a BUy and a $45 price target. Ken Trbovich said AMAG's introduction of a new formulation of Makena resulted in an 11% market share gain, on a doubling in prescriptions in just six months. He expects growth to continue well into 2017, setting AMAG shares up to benefit from excellent 4Q16 results and positive 2017 guidance because Makena accounts for 60% of AMAG's revenues. Additionally, Trbovich expects data from Makena SQ in Q1 to increase confidence in the company's ability to defend the franchise.