AMAG Pharmaceuticals, Inc. (AMAG) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) from a hold rating to a buy rating in a report published on Wednesday. The brokerage currently has $21.00 price objective on the specialty pharmaceutical company’s stock.
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.”
Other equities research analysts have also recently issued research reports about the company. BidaskClub upgraded AMAG Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 6th. Cantor Fitzgerald reiterated a hold rating on shares of AMAG Pharmaceuticals in a research note on Monday, July 24th. Deutsche Bank AG set a $24.00 price objective on AMAG Pharmaceuticals and gave the stock a hold rating in a research note on Friday, July 7th. Citigroup Inc. dropped their price objective on AMAG Pharmaceuticals to $24.00 and set a hold rating on the stock in a research note on Friday, July 7th. Finally, Cowen and Company reiterated a hold rating on shares of AMAG Pharmaceuticals in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $27.67.
Shares of AMAG Pharmaceuticals (AMAG) opened at 18.75 on Wednesday. The stock’s market capitalization is $661.65 million. AMAG Pharmaceuticals has a 52-week low of $16.00 and a 52-week high of $36.83. The stock has a 50 day moving average of $18.42 and a 200-day moving average of $19.41.
AMAG Pharmaceuticals (NASDAQ:AMAG) last announced its quarterly earnings data on Thursday, August 3rd. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.18. AMAG Pharmaceuticals had a negative return on equity of 4.81% and a negative net margin of 7.58%. The company had revenue of $158.39 million for the quarter, compared to analysts’ expectations of $158.83 million. During the same quarter in the prior year, the business posted $1.45 EPS. The business’s revenue was up 24.3% compared to the same quarter last year. On average, equities research analysts predict that AMAG Pharmaceuticals will post ($1.38) EPS for the current fiscal year.
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In related news, SVP Julie Krop sold 4,938 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $20.00, for a total transaction of $98,760.00. Following the transaction, the senior vice president now directly owns 28,336 shares of the company’s stock, valued at approximately $566,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can grew its holdings in AMAG Pharmaceuticals by 3.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,746 shares of the specialty pharmaceutical company’s stock valued at $1,052,000 after buying an additional 1,724 shares in the last quarter. First Trust Advisors LP grew its holdings in AMAG Pharmaceuticals by 49.5% in the 1st quarter. First Trust Advisors LP now owns 55,055 shares of the specialty pharmaceutical company’s stock valued at $1,241,000 after buying an additional 18,227 shares in the last quarter. Comerica Bank grew its holdings in AMAG Pharmaceuticals by 4.5% in the 1st quarter. Comerica Bank now owns 38,047 shares of the specialty pharmaceutical company’s stock valued at $936,000 after buying an additional 1,648 shares in the last quarter. Karp Capital Management Corp acquired a new position in AMAG Pharmaceuticals in the 1st quarter valued at $232,000. Finally, Sei Investments Co. grew its holdings in AMAG Pharmaceuticals by 0.7% in the 1st quarter. Sei Investments Co. now owns 8,342 shares of the specialty pharmaceutical company’s stock valued at $188,000 after buying an additional 54 shares in the last quarter.
AMAG Pharmaceuticals Company Profile
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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