Palo Alto Investors buys $104,791,680 stake in AMAG Pharmaceuticals (AMAG)

AMAG Pharmaceuticals (AMAG) : Palo Alto Investors scooped up 53,500 additional shares in AMAG Pharmaceuticals during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 3,326,720 shares of AMAG Pharmaceuticals which is valued at $104,791,680.AMAG Pharmaceuticals makes up approximately 6.10% of Palo Alto Investors’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in AMAG in the latest quarter, The investment management firm added 47,213 additional shares and now holds a total of 2,843,905 shares of AMAG Pharmaceuticals which is valued at $89,583,008. AMAG Pharmaceuticals makes up approx 0.01% of Vanguard Group Inc’s portfolio.Quantbot Technologies Lp reduced its stake in AMAG by selling 857 shares or 70.59% in the most recent quarter. The Hedge Fund company now holds 357 shares of AMAG which is valued at $9,300.Strs Ohio reduced its stake in AMAG by selling 1,800 shares or 5.11% in the most recent quarter. The Hedge Fund company now holds 33,400 shares of AMAG which is valued at $865,060.

AMAG Pharmaceuticals closed down -1.35 points or -4.14% at $31.25 with 16,04,457 shares getting traded on Monday. Post opening the session at $32.9, the shares hit an intraday low of $30.5 and an intraday high of $32.9 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, AMAG Pharmaceuticals reported $1.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.28 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $1.50. The company had revenue of $143.80 million for the quarter, compared to analysts expectations of $138.95 million. The company’s revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.

Many Wall Street Analysts have commented on AMAG Pharmaceuticals. Needham Initiated AMAG Pharmaceuticals on Oct 27, 2016 to “Buy”, Price Target of the shares are set at $40.

AMAG Pharmaceuticals Inc. is a specialty pharmaceutical company. The Company focuses on maternal health anemia and cancer supportive care. The Company markets Makena (hydroxyprogesterone caproate injection) Feraheme (ferumoxytol) Injection for Intravenous (IV) use and MuGard Mucoadhesive Oral Wound Rinse. Feraheme is an IV iron replacement therapy for the treatment of iron deficiency anemia (IDA) in adult patients with chronic kidney disease (CKD). Feraheme is approved for marketing in the United States. Makena is a drug indicated to reduce the risk of preterm birth in women with a singleton pregnancy who have a history of singleton spontaneous preterm birth. MuGard is indicated for the management of oral mucositis/stomatitis and all types of oral wounds including aphthous ulcers/canker sores and traumatic ulcers such as those caused by oral surgery or ill-fitting dentures or braces.

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