AMAG Pharmaceuticals Inc. (AMAG): Deerfield Management Boosts Stake to Nearly 6%

Deerfield Management, managed by James E. Flynn, has disclosed upping its stake in AMAG Pharmaceuticals Inc. (NASDAQ:AMAG). A new filing with the U.S. Securities and Exchange Commission showed that Deerfield Management owns 1.31 million shares of the company, representing an increase from 534,930 shares the fund reported in its latest 13F filing. The new position amasses 5.99% of common stock, and is passive by nature.

AMAG Pharmaceuticals

AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) is a specialty pharmaceutical company that has a market cap of $462.44 million. As a result of strong U.S. Feraheme sales, the company’s total revenues for the second quarter of 2014 increased to $24.8 million from $17.5 million in the same quarter of 2013. U.S. Feraheme net product sales increased to $22.2 million in the second quarter of 2014. The growth was driven by higher ex-factory volume sales and improved net revenue per gram of Feraheme, up 18% and 9% respectively from the second quarter of 2013, the company said in a press release.

For the second quarter, the company posted net loss of $1.5 million, or $0.07 per basic and diluted share, compared to a net loss of $1.9 million, or a loss of $0.09 per basic and diluted share, for the second quarter of 2013.

The largest shareholders of AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) include Adage Capital Management, managed by Phill Gross and Robert Atchinson, which reported owning around 3.80 million shares, and Jacob Gottlieb’s Visium Asset Management, which disclosed ownership of 2.00 million shares of the company.

Deerfield Management is a healthcare focused investment company that specializes in funding R&D, managing hostile takeovers, corporate transitions and financial advisory services. At the end of the first quarter of 2014, the value of the fund’s equity portfolio totaled $2.4 billion. Last month, the fund disclosed a new passive stake in Amphastar Pharmaceuticals Inc. (NASDAQ:AMPH), owning owns 1.83 million shares of the company, equivalent to 4.22% of common stock.

Disclosure: none

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