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Stock Market & Financial Investment News

News Breaks
December 10, 2012
11:18 EDTAMAGAMAG Pharmaceuticals announces new data from phase III trials of ferumoxytol
AMAG Pharmaceuticals announced that new data from two pivotal phase III clinical trials were presented at the American Society of Hematology’s annual meeting in Atlanta, Georgia. The phase III trials evaluated the use of ferumoxytol in subjects with iron deficiency anemia, or IDA, regardless of the underlying cause of the anemia, who had failed or could not tolerate oral iron treatment. New data from an investigator-initiated study evaluating a one gram 15-minute infusion of ferumoxytol are also being presented at ASH; the current approved dosing of ferumoxytol is two 510 mg injections, three to eight days apart. Two poster sessions highlighted the safety and efficacy data from each of the phase III clinical trials: IDA-301 and IDA-302. In addition, an oral presentation contained patient-reported outcome data from IDA-301, which demonstrated a direct correlation between the rise in hemoglobin and improvement in patient-reported measures of fatigue. Data from these two clinical trials will be the foundation for AMAG’s supplemental new drug application in the United States. AMAG's sNDA will seek to expand the use of Feraheme for all adult iron deficiency anemia patients with a history of unsatisfactory use of oral iron. The company expects to submit the sNDA to the U.S. Food and Drug Administration this month. In the United States, Feraheme is currently indicated only for the treatment of iron deficiency anemia in adult CKD patients.
News For AMAG From The Last 14 Days
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September 30, 2014
16:22 EDTAMAGOn The Fly: Closing Wrap
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13:28 EDTAMAGAMAG rally continues after analysts praise acquisition
Shares of AMAG Pharmaceuticals (AMAG) are climbing for a second day after the company agreed to buy Lumara Health's maternal health unit and its flagship product Makena, which is used to reduce the risk of premature births. A number of analysts wrote today that the deal is positive for AMAG. WHAT'S NEW: AMAG yesterday morning announced that it had acquired Lumara's maternal health unit, including Makena, for $675M. AMAG could pay another $350M if certain sales milestones are met. ANALYST REACTION: FBR Capital analyst Andrew Berens reacted to the news by upgrading AMAG to Outperform from Market Perform. The deal should immediately increase AMAG's profits, Berens estimated. He expects Makena to generate $267M in revenue next year, rising to $475M in 2017. The deal increases the net present value of AMAG by over $689M, the analyst estimated, predicting that within the next year, investors will begin to focus on AMAG's "explosive" growth potential. He raised his price target on the shares to $36 from $21. Also upbeat on the deal was Christopher Raymond, an analyst at research firm Robert W. Baird. There's a great deal to like about Makena's near-term outlook, as competing drugs have been under heightened scrutiny but still have a 46% share of the market, Raymond stated. Additionally, AMAG's implied guidance for Makena's sales in fiscal 2015 appears to be conservative and may increase, the analyst stated. He raised his price target on the shares to $45 from $28 and reiterated an Outperform rating on the stock. PRICE ACTION: In mid-afternoon trading, AMAG climbed $2.70, or 9%, to $32.40. AMAG closed at $23.18 on Friday, the last trading day before the deal was announced.
10:03 EDTAMAGFollow-up: AMAG Pharmaceuticals upgraded to Buy at Jefferies
Jefferies upgraded AMAG Pharmaceuticals to Buy from Hold with an increased price target of $40 citing added earnings growth from the acquisition of Lumara Health. Shares were also upgraded this morning at FBR Capital.
10:02 EDTAMAGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMAG Pharmaceuticals (AMAG) upgraded to Outperform at FBR Capital... Addus HomeCare (ADUS) upgraded to Outperform from Perform at Oppenheimer... Alcoa (AA) upgraded at BofA/Merrill... Ashford Hospitality Prime (AHP) upgraded to Outperform from at FBR Capital... Associated British Foods (ASBFY) upgraded to Outperform from Neutral at Credit Suisse... CSC (CSC) upgraded at Raymond James... Century Aluminum (CENX) upgraded to Buy from Neutral at BofA/Merrill... Dominion Diamond (DDC) upgraded to Overweight from Equal Weight at Barclays... Flagstar Bancorp (FBC) upgraded to Neutral from Sell at BTIG... Freeport McMoRan (FCX) upgraded to Buy from Neutral at BofA/Merrill... Hudbay Minerals (HBM) upgraded to Buy from Neutral at BofA/Merrill... ICU Medical (ICUI) upgraded at Raymond James... Lockheed Martin (LMT) upgraded at Stifel... Mellanox (MLNX) upgraded to Overweight from Neutral at Piper Jaffray... NiSource (NI) upgraded to Outperform from Neutral at Credit Suisse... Northwest Bancshares (NWBI) upgraded to Outperform at Boenning & Scattergood... NuVasive (NUVA) upgraded to Buy from Hold at Brean Capital... Patterson-UTI Energy (PTEN) upgraded to Equal Weight at Morgan Stanley... Raytheon (RTN) upgraded at Stifel... Royal Dutch Shell (RDS.A) upgraded to Outperform from Market Perform at Bernstein... Seventy Seven Energy (SSE) upgraded to Buy from Hold at Jefferies... TIBCO (TIBX) upgraded to Equal Weight from Underweight at Barclays... Taseko Mines (TGB) upgraded to Neutral from Underperform at BofA/Merrill... Teekay (TK) upgraded to Buy from Hold at Deutsche Bank... Toyota (TM) upgraded to Overweight from Neutral at JPMorgan.
09:55 EDTAMAGAMAG Pharmaceuticals upgraded to Buy from Hold at Jefferies
08:21 EDTAMAGAMAG Pharmaceuticals price target raised to $45 from $28 at RW Baird
Baird raised its price target on AMAG Pharmaceuticals to $45 from $28 following the company's announced acquisition of Makena, the flagship product of Lumara Health. The firm said the deal provides P&L leverage and a favorable set-up for new money. Baird reiterates its Outperform rating on AMAG Pharmaceuticals.
08:11 EDTAMAGAMAG Pharmaceuticals upgraded to Outperform at FBR Capital
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06:45 EDTAMAGAMAG Pharmaceuticals upgraded to Outperform from Market Perform at FBR Capital
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September 29, 2014
07:17 EDTAMAGLumara Health to be acquired in two separate transactions for $1.11B
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07:16 EDTAMAGAMAG Pharmaceuticals to host conference call
Conference call to discuss a definitive agreement to acquire Lumara Health Inc will be held at 8 am on September 29. Webcast Link
06:59 EDTAMAGAMAG Pharmaceuticals to acquire Lumara Health for $675M
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