First Trust Advisors LP Raises Stake in AMAG Pharmaceuticals, Inc. (AMAG)
First Trust Advisors LP grew its holdings in AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) by 106.8% during the second quarter, HoldingsChannel.com reports. The fund owned 70,869 shares of the specialty pharmaceutical company’s stock after purchasing an additional 36,607 shares during the quarter. First Trust Advisors LP’s holdings in AMAG Pharmaceuticals were worth $1,382,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of AMAG. Piedmont Investment Advisors LLC purchased a new position in shares of AMAG Pharmaceuticals in the 2nd quarter valued at $156,000. Meeder Asset Management Inc. raised its stake in shares of AMAG Pharmaceuticals by 590.9% in the 2nd quarter. Meeder Asset Management Inc. now owns 8,947 shares of the specialty pharmaceutical company’s stock valued at $174,000 after acquiring an additional 7,652 shares during the period. Hartford Investment Management Co. purchased a new position in shares of AMAG Pharmaceuticals in the 2nd quarter valued at $325,000. PNC Financial Services Group Inc. raised its stake in shares of AMAG Pharmaceuticals by 94.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,652 shares of the specialty pharmaceutical company’s stock valued at $518,000 after acquiring an additional 12,491 shares during the period. Finally, Sei Investments Co. raised its stake in shares of AMAG Pharmaceuticals by 83.0% in the 1st quarter. Sei Investments Co. now owns 28,209 shares of the specialty pharmaceutical company’s stock valued at $568,000 after acquiring an additional 12,793 shares during the period.
A number of equities analysts have recently commented on AMAG shares. Janney Montgomery Scott downgraded shares of AMAG Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research note on Friday, June 15th. Leerink Swann assumed coverage on shares of AMAG Pharmaceuticals in a report on Monday, May 21st. They set a “market perform” rating and a $24.65 price target for the company. B. Riley raised shares of AMAG Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the company from $23.00 to $30.00 in a report on Friday, June 15th. BidaskClub lowered shares of AMAG Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, May 28th. Finally, ValuEngine lowered shares of AMAG Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.85.
AMAG Pharmaceuticals (NASDAQ:AMAG) last released its quarterly earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.75) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.54). The firm had revenue of $146.25 million for the quarter, compared to analyst estimates of $156.26 million. AMAG Pharmaceuticals had a negative net margin of 36.87% and a negative return on equity of 2.77%. AMAG Pharmaceuticals’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.40) earnings per share. equities analysts forecast that AMAG Pharmaceuticals, Inc. will post -3.43 earnings per share for the current year.
In related news, CEO William K. Heiden sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the chief executive officer now directly owns 328,015 shares of the company’s stock, valued at approximately $8,200,375. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by company insiders.
AMAG Pharmaceuticals Profile
AMAG Pharmaceuticals, Inc, a biopharmaceutical company, manufactures, develops, and commercializes therapeutics for maternal and women's health, anemia management, and cancer supportive care in the United States. It markets Makena, a hydroxyprogesterone caproate injection to reduce the risk of preterm birth in women pregnant with a single baby who have a history of singleton spontaneous preterm birth; Feraheme (ferumoxytol), an intravenous iron replacement therapeutic agent for the treatment of iron deficiency anemia in adult patients who have intolerance to oral iron or have had unsatisfactory response to oral iron, as well as patients who have chronic kidney disease; Intrarosa(prasterone) vaginal insert steroid for the treatment of dyspareunia due to menopause; and MuGard Mucoadhesive Oral Wound Rinse for the management of oral mucocitis/stomatiits and various types of oral wounds.
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