A number of other equities research analysts have also issued reports on the company. Jefferies Group reiterated a buy rating and issued a $43.00 price target on shares of The Medicines in a research note on Friday. JPMorgan Chase & Co. reiterated a buy rating on shares of The Medicines in a research note on Thursday. Guggenheim reiterated a buy rating and issued a $55.00 price target on shares of The Medicines in a research note on Monday, August 15th. Cowen and Company reiterated a buy rating and issued a $45.00 price target on shares of The Medicines in a research note on Friday, August 5th. Finally, Citigroup Inc. reiterated a hold rating on shares of The Medicines in a research note on Tuesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $47.33.
Shares of The Medicines (NASDAQ:MDCO) opened at 35.41 on Friday. The Medicines has a 1-year low of $27.50 and a 1-year high of $43.00. The stock has a 50 day moving average price of $38.65 and a 200-day moving average price of $36.24. The company’s market cap is $2.47 billion.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.16) by $0.54. The Medicines had a negative return on equity of 34.20% and a negative net margin of 90.33%. The business earned $54.70 million during the quarter, compared to analyst estimates of $41.93 million. During the same quarter in the prior year, the business posted ($0.65) EPS. The Medicines’s revenue for the quarter was down 26.5% compared to the same quarter last year. Equities research analysts forecast that The Medicines will post ($1.36) earnings per share for the current year.
In related news, Director Hiroaki Shigeta sold 3,849 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $38.50, for a total value of $148,186.50. Following the completion of the transaction, the director now owns 23,547 shares of the company’s stock, valued at approximately $906,559.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Clive Meanwell sold 8,623 shares of the stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $40.00, for a total transaction of $344,920.00. Following the completion of the transaction, the chief executive officer now directly owns 347,791 shares of the company’s stock, valued at approximately $13,911,640. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MDCO. Tower Research Capital LLC TRC acquired a new position in shares of The Medicines during the second quarter worth approximately $100,000. BlackRock Inc. increased its position in shares of The Medicines by 28.3% in the first quarter. BlackRock Inc. now owns 4,554 shares of the company’s stock worth $145,000 after buying an additional 1,005 shares during the last quarter. Strs Ohio increased its position in shares of The Medicines by 22.4% in the second quarter. Strs Ohio now owns 6,000 shares of the company’s stock worth $201,000 after buying an additional 1,100 shares during the last quarter. HBK Investments L P acquired a new position in shares of The Medicines during the first quarter worth approximately $210,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of The Medicines during the second quarter worth approximately $258,000.
About The Medicines
The Medicines Company is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin).
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