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Upgrade Alert for AMAG Pharmaceuticals (AMAG)

By Nick Russo

AMAG Pharmaceuticals (NASDAQ:AMAG) was upgraded from Market Perform to Outperform at FBR Capital today. The stock closed yesterday at $29.72 on volume of 4.4 million shares, above average daily volume of 277,000.

Over the past year, AMAG Pharmaceuticals has traded in a range of $16.49 to $29.84 and closed yesterday at $29.72, 80% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

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.

AMAG Pharmaceuticals (NASDAQ:AMAG) defies analysts with a current price ($29.72) 20.9% above its average consensus price target of $23.50. AMAG Pharmaceuticals shares have support at the 50-day moving average (MA) of $21.57 and additional support at the 200-day MA of $20.50.

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 42.2%. We continue to monitor AMAG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades amag pharmaceuticals

Ticker(s): AMAG