AMAG Pharmaceuticals Trips Sell Stop
Shares of AMAG Pharmaceuticals (NSDQ: AMAG), a pharmaceutical company focusing on maternal medicine, fell below our Sell Stop of $22 and are now rated SELL.
The company’s shares tumbled after it announced positive top line results from its Definitive Pharmacokinetic Study for Makena Subcutaneous Administration and will file a New Drug Application for its self-injection delivery system for the medication. Makena is the flagship drug for AMAG and is facing generic competition in the next few years. In my view, when a company reports positive news and is still sold off aggressively, it’s time to sell.
I will have more in this Monday’s edition of Breakthrough Tech Weekly