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Shares of AMAG Pharmaceuticals Rise to a New 52-Week High

Published on Mon, 03/18/2013 - 14:10
By Peter Chu

AMAG Pharmaceuticals (NASDAQ:AMAG) traded today at a new 52-week high of $21.73. So far today approximately 112,000 shares have been exchanged, as compared to an average 30-day volume of 72,000 shares.

AMAG Pharmaceuticals (NASDAQ:AMAG) defies analysts with a current price ($21.69) 21.6% above its average consensus price target of $17.00. The stock should discover initial support at its 50-day moving average (MA) of $16.70 and subsequent support at its 200-day MA of $15.82.

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 $12.43 to $21.73 and is now at $21.69, 74% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.0% while the 200-day MA has risen 1.0%.

By Peter Chu
pchu@fnno.com