Short Interest in AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) Rises By 24.2%

AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 10,568,800 shares, an increase of 24.2% from the May 30th total of 8,510,800 shares. Based on an average daily volume of 842,700 shares, the days-to-cover ratio is presently 12.5 days. Currently, 31.5% of the company’s stock are short sold.

Several research firms recently commented on AMAG. Zacks Investment Research upgraded shares of Hanmi Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 20th. SunTrust Banks restated a “hold” rating and set a $8.00 price target on shares of TrueCar in a report on Tuesday, May 14th. BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Cowen restated a “hold” rating and set a $13.00 price target on shares of AMAG Pharmaceuticals in a report on Monday, June 24th. Finally, Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.92.

In related news, insider Elizabeth Scott Bolgiano purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average cost of $10.93 per share, for a total transaction of $54,650.00. Following the completion of the acquisition, the insider now owns 74,847 shares in the company, valued at approximately $818,077.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William K. Heiden purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $10.70 per share, with a total value of $107,000.00. Following the completion of the acquisition, the chief executive officer now owns 490,056 shares of the company’s stock, valued at approximately $5,243,599.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 328,016 shares of company stock valued at $2,904,577. 4.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System raised its position in shares of AMAG Pharmaceuticals by 0.8% in the fourth quarter. California Public Employees Retirement System now owns 86,987 shares of the specialty pharmaceutical company’s stock valued at $1,321,000 after purchasing an additional 690 shares during the period. Texas Permanent School Fund raised its position in shares of AMAG Pharmaceuticals by 4.2% in the fourth quarter. Texas Permanent School Fund now owns 22,600 shares of the specialty pharmaceutical company’s stock valued at $343,000 after purchasing an additional 909 shares during the period. NumerixS Investment Technologies Inc raised its position in shares of AMAG Pharmaceuticals by 17.8% in the first quarter. NumerixS Investment Technologies Inc now owns 7,166 shares of the specialty pharmaceutical company’s stock valued at $90,000 after purchasing an additional 1,083 shares during the period. Rhumbline Advisers raised its position in shares of AMAG Pharmaceuticals by 1.1% in the first quarter. Rhumbline Advisers now owns 103,866 shares of the specialty pharmaceutical company’s stock valued at $1,338,000 after purchasing an additional 1,125 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of AMAG Pharmaceuticals by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 285,332 shares of the specialty pharmaceutical company’s stock valued at $4,334,000 after purchasing an additional 1,613 shares during the period.

Shares of AMAG opened at $9.27 on Friday. The company has a market capitalization of $313.05 million, a price-to-earnings ratio of -2.39 and a beta of 0.47. The company’s 50 day simple moving average is $9.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.13 and a current ratio of 2.30. AMAG Pharmaceuticals has a twelve month low of $7.81 and a twelve month high of $26.10.

AMAG Pharmaceuticals (NASDAQ:AMAG) last issued its quarterly earnings data on Tuesday, May 7th. The specialty pharmaceutical company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($2.77). The business had revenue of $75.80 million for the quarter, compared to the consensus estimate of $90.13 million. AMAG Pharmaceuticals had a negative net margin of 30.90% and a negative return on equity of 26.33%. AMAG Pharmaceuticals’s revenue was down 35.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.59) EPS. As a group, research analysts expect that AMAG Pharmaceuticals will post -2.15 EPS for the current year.

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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