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)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

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!