AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) Sees Significant Growth in Short Interest

AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 11,430,500 shares, an increase of 9.5% from the June 30th total of 10,440,000 shares. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is currently 10.8 days. Approximately 34.1% of the company’s stock are sold short.

Several research firms have weighed in on AMAG. BidaskClub upgraded shares of AMAG Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 6th. Barclays began coverage on shares of AMAG Pharmaceuticals in a report on Tuesday, June 11th. They set an “overweight” rating and a $19.00 price objective on the stock. ValuEngine upgraded shares of AMAG Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of AMAG Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $9.25 price objective on the stock in a report on Thursday, June 20th. Finally, Cowen restated a “hold” rating and set a $13.00 price objective on shares of AMAG Pharmaceuticals in a report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.53.

NASDAQ AMAG opened at $11.40 on Friday. AMAG Pharmaceuticals has a 1 year low of $6.81 and a 1 year high of $25.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.60 and a quick ratio of 1.50. The firm has a market cap of $384.94 million, a price-to-earnings ratio of -2.94 and a beta of 0.43. The company has a fifty day moving average price of $9.40 and a 200-day moving average price of $11.53.

AMAG Pharmaceuticals (NASDAQ:AMAG) last posted its earnings results on Wednesday, August 7th. The specialty pharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.62). AMAG Pharmaceuticals had a negative return on equity of 31.31% and a negative net margin of 64.33%. The firm had revenue of $78.00 million during the quarter, compared to the consensus estimate of $90.72 million. During the same quarter in the previous year, the company earned ($0.75) EPS. The business’s revenue was down 46.6% compared to the same quarter last year. On average, research analysts anticipate that AMAG Pharmaceuticals will post -2.89 EPS for the current fiscal year.

In other AMAG Pharmaceuticals news, insider Julie Krop acquired 10,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $9.91 per share, for a total transaction of $99,100.00. Following the completion of the acquisition, the insider now owns 81,399 shares in the company, valued at approximately $806,664.09. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Armistice Capital, Llc acquired 259,016 shares of the stock in a transaction on Tuesday, June 25th. The shares were acquired at an average price of $8.59 per share, for a total transaction of $2,224,947.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 958,016 shares of company stock worth $7,676,077. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Camber Capital Management LP grew its stake in shares of AMAG Pharmaceuticals by 13.2% in the 2nd quarter. Camber Capital Management LP now owns 3,000,000 shares of the specialty pharmaceutical company’s stock worth $29,970,000 after acquiring an additional 350,000 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of AMAG Pharmaceuticals by 4.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,034,200 shares of the specialty pharmaceutical company’s stock worth $20,322,000 after acquiring an additional 87,500 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of AMAG Pharmaceuticals by 6.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,304,639 shares of the specialty pharmaceutical company’s stock worth $16,803,000 after acquiring an additional 79,007 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of AMAG Pharmaceuticals by 34.7% in the 2nd quarter. Acadian Asset Management LLC now owns 919,064 shares of the specialty pharmaceutical company’s stock worth $9,180,000 after acquiring an additional 236,984 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of AMAG Pharmaceuticals by 12.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 790,424 shares of the specialty pharmaceutical company’s stock worth $7,896,000 after acquiring an additional 87,336 shares in the last quarter.

About AMAG Pharmaceuticals

AMAG Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and commercializes therapeutics for maternal and women's health, anemia management, and cancer supportive care in the United States. It markets 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; 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; 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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