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AMAG Pharma (AMAG) Incurs Narrower-than-Expected Loss in Q2

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AMAG Pharmaceuticals, Inc. (AMAG - Free Report) witnessed loss of 40 cents per share in the second quarter of 2017 compared with loss of 2 cents in the year-ago quarter. The reported figure is narrower than the Zacks Consensus Estimate of a loss of 58 cents.

The company’s quarterly revenues came in at $158.4 million, up approximately 24.3% from the year-ago quarter figure of $127.4 million. The upside was driven by impressive growth in net sales of Makena. In fact, the top line slightly beat the Zacks Consensus Estimate of $158 million.

Notably, AMAG’s share price has decreased 45.8% year to date against the Zacks classified industry’s gain of 9.4%.

Quarter in Detail

Makena sales came in at $102.7 million, up 31% year over year. Combined sales of Feraheme and MuGard amounted to $27.7 million, up 12.6%. During the quarter, service revenues from CBR came in at $28 million, 14.8% higher than $24.4 million in the year-ago quarter.

Total adjusted costs and expenses increased almost 61.8% to $109.7 million (excluding one-time and special items).

Key Developments

In the reported quarter, the company launched Intrarosa, the first and only FDA-approved local non-estrogen product, for the treatment of moderate-to-severe dyspareunia (pain during intercourse), which is a symptom of vulvar and vaginal atrophy (VVA) due to menopause.

The FDA also accepted the supplemental NDA (sNDA) of Makena subcutaneous auto-injector for review and set an action date of Feb 14, 2018.

Meanwhile, has completed the submission of a supplemental new drug application (sNDA) to the FDA for expanding Feraheme’s label, to include adult iron deficiency anemia (IDA)  patients who are intolerable to oral iron treatment.

2017 Outlook

AMAG reiterated its guidance for 2017. Total revenue is expected to be in the range of $625 million-$685 million.

The company still expects revenues to in the band of $410 million-$440 million for Makena, $100 million-$110 million for Feraheme and MuGard and $110 million-$120 million for the CBR Segment.

 

AMAG Pharmaceuticals, Inc. Price, Consensus and EPS Surprise

 

AMAG Pharmaceuticals, Inc. Price, Consensus and EPS Surprise | AMAG Pharmaceuticals, Inc. Quote

Zacks Rank & Stocks to Consider

AMAG currently carries a Zacks Rank #3 (Hold). Better-ranked pharma stocks in the same space include Exelixis, Inc. (EXEL - Free Report) , Enzo Biochem, Inc. (ENZ - Free Report) and Sanofi (SNY - Free Report) carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Exelixis’ pulled off positive earnings surprises in all the trailing four quarters, with an average beat of 543.59%. The share price of the company has increased 72.4% year to date.

Enzo Biochem’s loss per share estimates narrowed from 12 cents to 7 cents for 2017 and from 11 cents to 3 cents for 2018, over the last 60 days. The company delivered positive earnings surprises in all the trailing four quarters, with an average beat of 55.83%. The share price of the company has increased 60.9% year to date.

Sanofi’s earnings per share estimates increased from $3.18 to $3.38 for 2017 and from $3.30 to $3.38 for 2018, over last 30 days. The company came up with positive earnings surprises in two of the trailing four quarters, with an average beat of 5.10%. The share price of the company has increased 17.9% year to date.

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