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AMAG Pharmaceuticals Tanks After Raymond James Downgrade

AMAG Pharmaceuticals Tanks After Raymond James Downgrade

AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) shares were seen trading lower by $10.50 at $25.20 in Monday's session. Before the open, the issue company issued FY 2017 sales that surrounded current estimates. Also, the company announced an exclusive licensing agreement with Palatin Technologies, Inc. (NYSE: PTN) for North American rights to Rekyndatm.

However, that news has been overshadowed by a downgrade at Raymond James. The analysts changed their rating from Market Perform to Underperform. Its $4.00 plus lower opening price of $31.55 has turned out to be the high for the session.

The ensuing decline has taken the issue to $23.90, but it has rebounded back into the $25.00 handle. That low coincides with a pair of lows from November 3 and 4 at $23.80.

Latest Ratings for AMAG

Aug 2019Initiates Coverage OnBuy
Jun 2019Initiates Coverage OnOverweight
Mar 2019Initiates Coverage OnHold

View More Analyst Ratings for AMAG
View the Latest Analyst Ratings

Posted-In: Analyst Color Biotech News Downgrades Technicals Intraday Update Analyst Ratings Movers


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