AMAG Pharmaceuticals, Inc. (AMAG) Rating Increased to Buy at Zacks Investment Research
AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $21.00 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.24% from the company’s current price.
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 research analysts have also issued research reports about the stock. ValuEngine upgraded shares of AMAG Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 25th. Cantor Fitzgerald reiterated a “hold” rating on shares of AMAG Pharmaceuticals in a research report on Monday, July 24th. BidaskClub upgraded AMAG Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Deutsche Bank AG set a $24.00 price target on AMAG Pharmaceuticals and gave the company a “hold” rating in a research note on Friday, July 7th. Finally, Citigroup Inc. reduced their price target on AMAG Pharmaceuticals to $24.00 and set a “hold” rating on the stock in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. AMAG Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $27.67.
Shares of AMAG Pharmaceuticals (NASDAQ:AMAG) traded up 0.26% on Wednesday, reaching $19.10. 185,428 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $18.24 and its 200 day moving average price is $19.44. AMAG Pharmaceuticals has a 12 month low of $16.00 and a 12 month high of $36.83. The company’s market cap is $674.00 million.
AMAG Pharmaceuticals (NASDAQ:AMAG) last released its quarterly earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported ($0.40) EPS for the quarter, beating 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 the consensus estimate of $158.83 million. During the same period in the prior year, the company posted $1.45 earnings per share. AMAG Pharmaceuticals’s revenue was up 24.3% compared to the same quarter last year. Equities research analysts predict that AMAG Pharmaceuticals will post ($1.38) EPS for the current fiscal year.
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In other AMAG Pharmaceuticals news, SVP Julie Krop sold 4,938 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $20.00, for a total transaction of $98,760.00. Following the completion of the transaction, the senior vice president now owns 28,336 shares of the company’s stock, valued at $566,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in shares of AMAG Pharmaceuticals by 81.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,871 shares of the specialty pharmaceutical company’s stock valued at $126,000 after purchasing an additional 3,081 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in AMAG Pharmaceuticals by 6.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,280 shares of the specialty pharmaceutical company’s stock worth $152,000 after purchasing an additional 510 shares in the last quarter. Mason Street Advisors LLC increased its position in AMAG Pharmaceuticals by 7.4% during the 1st quarter. Mason Street Advisors LLC now owns 8,030 shares of the specialty pharmaceutical company’s stock worth $181,000 after purchasing an additional 554 shares in the last quarter. Sei Investments Co. increased its position in AMAG Pharmaceuticals by 0.7% during the 1st quarter. Sei Investments Co. now owns 8,342 shares of the specialty pharmaceutical company’s stock worth $188,000 after purchasing an additional 54 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in AMAG Pharmaceuticals during the 1st quarter worth approximately $232,000.
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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