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

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways 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

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!