AMAG Pharmaceuticals, Inc. (AMAG) Lowered to “Hold” at Zacks Investment Research
AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “AMAG has been pursuing strategic acquisitions and deals to boost its portfolio and pipeline. The company is making its investments in the launch of Intrarosa, expansion of the label for Feraheme, development work to support the bremelanotide NDA and expected approval and launch of the Makena subcutaneous auto-injector (SQ) . In June 2017, the FDA accepted the sNDA for the Makena subcutaneous auto-injector. The agency has established a Prescription Drug User Fee Act (PDUFA) target action date of Feb 14, 2018. AMAG is focused on expanding the Makena’s label further in a bid to increase its market share. AMAG’s shares have underperformed the Medical-Biomedical/Genetics industry year to date. Estimates have remained mostly stable lately ahead of the Q2 results. AMAG has a negative record of earnings surprises in the recent quarters.”
AMAG has been the topic of a number of other reports. Barclays PLC restated a “hold” rating and set a $25.00 price objective on shares of AMAG Pharmaceuticals in a research note on Friday, May 5th. ValuEngine upgraded shares of AMAG Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday. TheStreet cut shares of AMAG Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Friday, May 5th. Citigroup Inc. lowered their target price on AMAG Pharmaceuticals to $24.00 and set a “hold” rating on the stock in a report on Friday, July 7th. Finally, Jefferies Group LLC set a $40.00 target price on AMAG Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. AMAG Pharmaceuticals presently has an average rating of “Hold” and an average target price of $28.09.
AMAG Pharmaceuticals (AMAG) traded down 0.25% during mid-day trading on Wednesday, reaching $19.90. 598,197 shares of the company traded hands. AMAG Pharmaceuticals has a 52-week low of $16.00 and a 52-week high of $36.83. The stock’s market capitalization is $697.40 million. The firm’s 50-day moving average is $18.48 and its 200 day moving average is $21.19.
AMAG Pharmaceuticals (NASDAQ:AMAG) last issued its quarterly earnings data on Tuesday, May 2nd. The specialty pharmaceutical company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $1.15. AMAG Pharmaceuticals had a negative net margin of 5.61% and a positive return on equity of 1.69%. The company had revenue of $139.47 million for the quarter, compared to the consensus estimate of $150.32 million. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. AMAG Pharmaceuticals’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, equities research analysts expect that AMAG Pharmaceuticals will post $5.40 earnings per share for the current year.
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In related news, SVP Julie Krop sold 1,891 shares of AMAG Pharmaceuticals stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $24.45, for a total value of $46,234.95. Following the transaction, the senior vice president now owns 36,777 shares of the company’s stock, valued at approximately $899,197.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of AMAG. State of Alaska Department of Revenue boosted its position in shares of AMAG Pharmaceuticals by 81.3% in the second quarter. State of Alaska Department of Revenue now owns 6,871 shares of the specialty pharmaceutical company’s stock worth $126,000 after buying an additional 3,081 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of AMAG Pharmaceuticals by 6.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,280 shares of the specialty pharmaceutical company’s stock worth $152,000 after buying an additional 510 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of AMAG Pharmaceuticals by 259.9% in the first quarter. Advisors Asset Management Inc. now owns 6,931 shares of the specialty pharmaceutical company’s stock worth $156,000 after buying an additional 5,005 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of AMAG Pharmaceuticals by 7.4% in the first quarter. Mason Street Advisors LLC now owns 8,030 shares of the specialty pharmaceutical company’s stock worth $181,000 after buying an additional 554 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of AMAG Pharmaceuticals by 0.7% in the first quarter. Sei Investments Co. now owns 8,342 shares of the specialty pharmaceutical company’s stock worth $188,000 after buying an additional 54 shares in the last quarter.
About AMAG Pharmaceuticals
AMAG Pharmaceuticals, Inc is a pharmaceutical company. The Company’s segment is the manufacture, development and commercialization of products and services for use in treating various conditions, with a focus on maternal health, anemia management and cancer supportive care. Its offerings focus on maternal health, anemia management and cancer supportive care, including its product, Makena (hydroxyprogesterone caproate injection); services related to the collection, processing and storage of umbilical cord blood stem cell and cord tissue units operated through Cord Blood Registry (CBR); its product, Feraheme (ferumoxytol), for intravenous (IV) use, and MuGard Mucoadhesive Oral Wound Rinse.
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