AMAG (AMAG) Shares Collapse as Board Quietly Abandons Active Sale Process
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Shares of AMAG Pharma (Nasdaq: AMAG) are getting sold Thursday as investors are responding to news the company will shift its "focus from an active sale process to the continued growth of Feraheme and the pursuit of business development opportunities."
The development was issued in a release which disclosed the appointment of William Heiden as the company's new President and CEO. Sneaky.
Analysts at both Baird and Ladenburg Thalmann downgraded shares of AMAG amid the news.
The stock last traded at $13.87, down about 13.4 percent from Wednesday's closing price.
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The development was issued in a release which disclosed the appointment of William Heiden as the company's new President and CEO. Sneaky.
Analysts at both Baird and Ladenburg Thalmann downgraded shares of AMAG amid the news.
The stock last traded at $13.87, down about 13.4 percent from Wednesday's closing price.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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Robert W Baird, Ladenburg Thalmann Financial Services
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