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Recent 52-Week High Exceeded in Shares of AMAG Pharmaceuticals (AMAG)

By Nick Russo

Shares of AMAG Pharmaceuticals (NASDAQ:AMAG) traded at a new 52-week high today of $36.96. So far today approximately 93,000 shares have been exchanged, as compared to an average 30-day volume of 465,000 shares.

There is potential upside of 9.5% for shares of AMAG Pharmaceuticals based on a current price of $36.54 and an average consensus analyst price target of $40.00. The stock should discover initial support at its 50-day moving average (MA) of $31.20 and subsequent support at its 200-day MA of $22.64.

AMAG Pharmaceuticals, Inc., a biopharmaceutical company, utilizes its proprietary nanoparticle technology for the development and commercialization of therapeutic iron compounds to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.

Over the past year, AMAG Pharmaceuticals has traded in a range of $16.49 to $36.96 and is now at $36.54, 122% above that low. The 200-day and 50-day moving averages have moved 1.02% higher and 2.41% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of AMAG Pharmaceuticals on August 11th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.91. Since that recommendation, shares of AMAG Pharmaceuticals have risen 74.6%. We continue to monitor AMAG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows amag pharmaceuticals

Ticker(s): AMAG