AMAG Pharmaceuticals Hits 52-Week Low (AMAG)

Shares of AMAG Pharmaceuticals, Inc.

are currently down 17.8% at $15.86 per share during Friday morning trading. Today's trading range for shares of AMAG Pharmaceuticals, Inc has been between a 52-week low of $15.13 and $16.60 per share. The consensus price target of analysts covering the company's stock was $36.50 per share. Volume is at 2 million shares traded so far today, while the daily average volume is 521,000 shares. AMAG Pharmaceuticals, Inc. (

) released financial results on Thursday after the market closed that beat Wall Street earnings estimates but missed revenue estimates. AMAG Pharmaceuticals, Inc reported a lower than expected 3rd quarter loss of 81 cents per share, on worse than expected revenue of $16.9 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of $1.09 per share, on revenue of $20.43 million. The company also found possible safety issues related to its drug Feraheme, announced that it will reduce its workforce and that said that it is in discussions with the FDA regarding possible label changes. President and chief executive officer Brian J.G. Pereira said, “As our sales in the dialysis segment have begun to decline at a rate quicker than our growth in the non-dialysis chronic kidney disease (CKD) segment, we have made the difficult decision to restructure our organization. Today, we are reducing staff and operating expenses to optimize our use of capital and ensure that we invest wisely for the future of Feraheme and AMAG.” Read more