AMAG Pharmaceuticals, Inc. (AMAG) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) from a buy rating to a hold rating in a research note released on Tuesday 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 been mixed ahead of the Q3 earnings results. The company has a mixed record of earnings surprises in recent quarters.”
AMAG has been the subject of a number of other research reports. ValuEngine upgraded AMAG Pharmaceuticals from a strong sell rating to a sell rating in a research report on Tuesday, July 25th. Morgan Stanley initiated coverage on AMAG Pharmaceuticals in a research report on Friday, September 8th. They set an overweight rating and a $26.00 price objective for the company. Deutsche Bank AG restated a hold rating and set a $24.00 price objective on shares of AMAG Pharmaceuticals in a research report on Thursday, August 31st. Cantor Fitzgerald reaffirmed a hold rating and set a $23.00 target price on shares of AMAG Pharmaceuticals in a research note on Monday, June 26th. Finally, Janney Montgomery Scott reaffirmed a hold rating on shares of AMAG Pharmaceuticals in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. AMAG Pharmaceuticals presently has a consensus rating of Hold and an average target price of $27.67.
AMAG Pharmaceuticals (NASDAQ:AMAG) traded down 3.12% during midday trading on Tuesday, hitting $15.55. The stock had a trading volume of 616,753 shares. AMAG Pharmaceuticals has a one year low of $15.20 and a one year high of $36.83. The stock has a 50-day moving average price of $18.43 and a 200 day moving average price of $19.09. The firm’s market cap is $548.73 million.
AMAG Pharmaceuticals (NASDAQ:AMAG) last released its quarterly earnings data on Thursday, August 3rd. The specialty pharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $158.39 million during the quarter, compared to analyst estimates of $158.83 million. During the same quarter in the previous year, the firm posted $1.45 EPS. The business’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, analysts predict that AMAG Pharmaceuticals will post ($1.38) earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of AMAG. BlackRock Inc. raised its stake in shares of 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 worth $112,647,000 after buying an additional 4,988,054 shares in the last quarter. State Street Corp raised its stake in shares of AMAG Pharmaceuticals by 75.2% in the 1st quarter. State Street Corp now owns 2,522,059 shares of the specialty pharmaceutical company’s stock worth $56,876,000 after buying an additional 1,082,366 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AMAG Pharmaceuticals by 152.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,025,673 shares of the specialty pharmaceutical company’s stock worth $23,129,000 after buying an additional 619,370 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of AMAG Pharmaceuticals by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 607,980 shares of the specialty pharmaceutical company’s stock worth $13,710,000 after buying an additional 376,139 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of AMAG Pharmaceuticals by 175.1% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 525,989 shares of the specialty pharmaceutical company’s stock worth $9,679,000 after buying an additional 334,811 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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