State Board of Administration of Florida Retirement System cut its holdings in AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG) by 67.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,011 shares of the specialty pharmaceutical company’s stock after selling 52,407 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in AMAG Pharmaceuticals were worth $488,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Hartford Investment Management Co. acquired a new position in AMAG Pharmaceuticals in the second quarter valued at approximately $325,000. Sei Investments Co. lifted its stake in AMAG Pharmaceuticals by 1,695.3% in the second quarter. Sei Investments Co. now owns 506,429 shares of the specialty pharmaceutical company’s stock valued at $9,876,000 after buying an additional 478,220 shares during the period. Acadian Asset Management LLC lifted its stake in AMAG Pharmaceuticals by 177.8% in the second quarter. Acadian Asset Management LLC now owns 513,013 shares of the specialty pharmaceutical company’s stock valued at $10,001,000 after buying an additional 328,331 shares during the period. Employees Retirement System of Texas lifted its stake in AMAG Pharmaceuticals by 37.5% in the first quarter. Employees Retirement System of Texas now owns 66,000 shares of the specialty pharmaceutical company’s stock valued at $1,330,000 after buying an additional 18,000 shares during the period. Finally, Northern Trust Corp lifted its stake in AMAG Pharmaceuticals by 1.0% in the first quarter. Northern Trust Corp now owns 458,445 shares of the specialty pharmaceutical company’s stock valued at $9,237,000 after buying an additional 4,468 shares during the period.
In related news, CEO William K. Heiden sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was 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 owns 328,015 shares in the company, valued at $8,200,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.00% of the company’s stock.
AMAG has been the topic of several recent analyst reports. BidaskClub raised AMAG Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Leerink Swann initiated coverage on AMAG Pharmaceuticals in a research note on Monday, May 21st. They issued a “market perform” rating and a $24.65 price target on the stock. ValuEngine lowered AMAG Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. Janney Montgomery Scott lowered AMAG Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research note on Friday, June 15th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $18.00 price objective (up previously from $17.00) on shares of AMAG Pharmaceuticals in a report on Friday, August 3rd. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. AMAG Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $22.85.
NASDAQ AMAG opened at $24.35 on Thursday. AMAG Pharmaceuticals, Inc. has a 52 week low of $11.93 and a 52 week high of $26.10. The company has a current ratio of 2.06, a quick ratio of 1.95 and a debt-to-equity ratio of 0.99.
AMAG Pharmaceuticals (NASDAQ:AMAG) last released its quarterly earnings data on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.54). The firm had revenue of $146.25 million for the quarter, compared to the consensus estimate of $156.26 million. AMAG Pharmaceuticals had a negative net margin of 36.87% and a negative return on equity of 2.77%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.40) EPS. analysts expect that AMAG Pharmaceuticals, Inc. will post -3.31 EPS for the current year.
About AMAG Pharmaceuticals
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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