Visium Asset Management’s Latest Purchase: AMAG Pharmaceuticals Inc. (AMAG)

Visium Asset Management, managed by Jacob Gottlieb, disclosed in an SEC filing that it initiated a 1.6 million position in AMAG Pharmaceuticals Inc. (NASDAQ:AMAG), equal to a 7.2% stake in the company. Based on disclosures for the fourth quarter of 2013, the purchase would make Visium the fifth largest shareholder overall and third largest owner amongst the hedge funds we track.

Visium Asset Management

Other shareholders of AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) include Phill Gross and Robert Atchinson of Adage Capital Management (who is the largest shareholder), William Leland Edwards of Palo Alto Investors (who increased his stake by 3% during the fourth quarter) and Mitchell Blutt of Consonance Capital Management (who initiated a 1.0 million share purchase during the quarter).

AMAG Pharmaceuticals Inc. (NASDAQ:AMAG) is a $477.0 million market cap biopharmaceutical company that develops a therapeutic iron compound to treat iron deficiency anemia. It generates revenue from two commercial products: Feraheme, a differentiated intravenous iron for treatment of iron deficiency anemia in adult patients with chronic kidney disease (CKD), and MuGard, a prescription oral mucoadhesiverinse for the management of oral mucositis. The stock, like most biotechnology companies, tends to be volatile and driven by developments on its drug pipeline. It took a hit in late January 2014 after the U.S. Food and Drug Administration did not approve to expand Feraheme’s use beyond CKD patients to all adult patients who cannot tolerate oral iron treatment.

Following heavy spending on research and development, the company plans to add two to three additional products by 2018, which will diversify its portfolio, increase profitability and generate positive cash flows. For 2014, management expects 16% revenue growth, break-even net income and a cash balance of $392-397M, or more than an 80% increase from 2013 levels. This guidance is more or less reflected in 2014 consensus estimates of $95.3M in revenue and -$0.05 in loss per share.

Visium Asset Management was founded by Jacob Gottlieb in 2005. Though this hedge fund initially specialized in health care stocks, the firm now manages over $3.5 billion in its broader range of holdings. Industrials, utilities, financials, energy, credit, special situations, risk arbitrage, convertible bond arbitrage, and macro and quantitative investments are the key investment interests of Visium Asset Management. Jacob Gottlieb graduated magna cum laude from Brown University before receiving his medical doctorate (MD) degree from New York University Medical School. In 2001, Gottlieb received his CFA charter from AIMR.

Disclosures: None.

Recommended reading:

Jeffrey Ubben Ups ValueAct Capital’s Stake in Willis Group Holdings PLC (WSH)

Soros Fund Management Disposes More Digital River, Inc. (DRIV) Bonds

Tiger Global Ups Its Stake in dELiA*s, Inc. (DLIA)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!