Zacks Investment Research downgraded shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) from a buy rating to a hold rating in a research report report published on Tuesday, October 17th.
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 been mixed ahead of the Q3 earnings results. The company has a mixed record of earnings surprises in recent quarters.”
Other research analysts have also recently issued reports about the stock. Morgan Stanley initiated coverage on shares of AMAG Pharmaceuticals in a research report on Friday, September 8th. They set an overweight rating and a $26.00 price target on the stock. Deutsche Bank AG reissued a hold rating and set a $24.00 target price on shares of AMAG Pharmaceuticals in a research report on Thursday, August 31st. Cantor Fitzgerald reissued a hold rating and set a $23.00 target price on shares of AMAG Pharmaceuticals in a research report on Monday, June 26th. ValuEngine raised shares of AMAG Pharmaceuticals from a strong sell rating to a sell rating in a research report on Tuesday, July 25th. Finally, Citigroup Inc. reduced their target price on shares of AMAG Pharmaceuticals to $24.00 and set a hold rating on the stock in a research report on Friday, July 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $25.83.
Shares of AMAG Pharmaceuticals (NASDAQ:AMAG) traded up 0.493% during trading on Tuesday, hitting $15.275. 114,527 shares of the stock traded hands. AMAG Pharmaceuticals has a 52-week low of $15.05 and a 52-week high of $36.83. The company’s 50 day moving average is $18.22 and its 200 day moving average is $18.88. The firm’s market cap is $539.02 million.
AMAG Pharmaceuticals (NASDAQ:AMAG) last released its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.18. AMAG Pharmaceuticals had a negative net margin of 7.58% and a negative return on equity of 4.81%. The business had revenue of $158.39 million for the quarter, compared to analysts’ expectations of $158.83 million. During the same period last year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 24.3% on a year-over-year basis. On average, equities research analysts predict that AMAG Pharmaceuticals will post ($1.39) EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in AMAG Pharmaceuticals by 67,790.9% in the 1st quarter. BlackRock Inc. now owns 4,995,412 shares of the specialty pharmaceutical company’s stock valued at $112,647,000 after acquiring an additional 4,988,054 shares during the last quarter. Vanguard Group Inc. lifted its holdings in AMAG Pharmaceuticals by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 3,085,348 shares of the specialty pharmaceutical company’s stock valued at $69,576,000 after acquiring an additional 176,832 shares during the last quarter. State Street Corp lifted its holdings in AMAG Pharmaceuticals by 10.6% in the 2nd quarter. State Street Corp now owns 2,789,932 shares of the specialty pharmaceutical company’s stock valued at $51,336,000 after acquiring an additional 267,873 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in AMAG Pharmaceuticals by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,215,249 shares of the specialty pharmaceutical company’s stock worth $22,361,000 after buying an additional 189,576 shares during the period. Finally, Gotham Asset Management LLC raised its holdings in AMAG Pharmaceuticals by 17.8% during the 2nd quarter. Gotham Asset Management LLC now owns 800,055 shares of the specialty pharmaceutical company’s stock worth $14,721,000 after buying an additional 121,137 shares during the period.
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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