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AMAG Pharmaceuticals Tanks After Raymond James Downgrade

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Courtesy of Benzinga.

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

Date Firm Action From To
Jan 2017 Raymond James Downgrades Market Perform Underperform
Jan 2017 Janney Capital Initiates Coverage On Buy
Dec 2016 Cantor Fitzgerald Initiates Coverage On Neutral

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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