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Fly News Breaks for June 15, 2018
AMAG
Jun 15, 2018 | 10:46 EDT
As previously reported, Janney Montgomery Scott analyst Ken Trbovich downgraded Amag Pharmaceuticals to Neutral from Buy after the company announced it has agreed to divest Cord Blood Registry to a private equity investment firm for $530M in cash. The sale loses a positive contributor for the company at a price below which CBR was acquired, said Trbovich, who maintains a $20 fair value estimate on Amag shares, which are down about 5% to $23.60 in morning trading.
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