Zacks Investment Research Downgrades AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) to Hold
Zacks Investment Research downgraded shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
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.”
Several other brokerages have also commented on AMAG. Cantor Fitzgerald reaffirmed a hold rating and issued a $23.00 price target on shares of AMAG Pharmaceuticals in a research note on Tuesday, May 2nd. Jefferies Group LLC set a $40.00 price target on AMAG Pharmaceuticals and gave the company a buy rating in a research note on Thursday, April 20th. ValuEngine raised AMAG Pharmaceuticals from a strong sell rating to a sell rating in a research note on Tuesday, July 25th. Barclays PLC reaffirmed a hold rating and issued a $25.00 price target on shares of AMAG Pharmaceuticals in a research note on Friday, May 5th. Finally, BidaskClub raised AMAG Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. AMAG Pharmaceuticals has a consensus rating of Hold and a consensus target price of $28.09.
Shares of AMAG Pharmaceuticals (NASDAQ AMAG) opened at 19.60 on Wednesday. The firm has a 50-day moving average price of $18.65 and a 200-day moving average price of $21.16. AMAG Pharmaceuticals has a 1-year low of $16.00 and a 1-year high of $36.83. The stock’s market cap is $686.88 million.
AMAG Pharmaceuticals (NASDAQ:AMAG) last announced its quarterly earnings results on Tuesday, May 2nd. The specialty pharmaceutical company reported ($1.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $139.47 million during the quarter, compared to analyst estimates of $150.32 million. During the same period last year, the company earned ($0.22) EPS. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. Equities analysts forecast that AMAG Pharmaceuticals will post $5.40 EPS for the current year.
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In related news, SVP Julie Krop sold 4,938 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $20.00, for a total value of $98,760.00. Following the sale, the senior vice president now owns 28,336 shares in the company, valued at approximately $566,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in AMAG Pharmaceuticals by 4,071.4% in the first quarter. Bank of Montreal Can now owns 66,492 shares of the specialty pharmaceutical company’s stock valued at $1,500,000 after buying an additional 64,898 shares in the last quarter. Comerica Bank increased its stake in AMAG Pharmaceuticals by 5.1% in the fourth quarter. Comerica Bank now owns 36,399 shares of the specialty pharmaceutical company’s stock valued at $837,000 after buying an additional 1,764 shares in the last quarter. ClariVest Asset Management LLC increased its stake in AMAG Pharmaceuticals by 23.9% in the first quarter. ClariVest Asset Management LLC now owns 36,800 shares of the specialty pharmaceutical company’s stock valued at $830,000 after buying an additional 7,100 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in AMAG Pharmaceuticals by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 406,303 shares of the specialty pharmaceutical company’s stock valued at $14,140,000 after buying an additional 6,507 shares in the last quarter. Finally, Sei Investments Co. increased its stake in AMAG Pharmaceuticals by 0.7% in the first 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.
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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