The Medicines Co. (NASDAQ:MDCO) has received an average rating of “Buy” from the twelve research firms that are covering the company. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $43.50.
A number of equities research analysts recently commented on MDCO shares. Leerink Swann reaffirmed a “buy” rating and issued a $53.00 price target on shares of The Medicines in a report on Thursday, June 23rd. Bank of America Corp. reaffirmed a “buy” rating on shares of The Medicines in a report on Tuesday, July 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of The Medicines in a report on Thursday, October 6th. Guggenheim lifted their price target on shares of The Medicines from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Finally, Zacks Investment Research raised shares of The Medicines from a “sell” rating to a “hold” rating in a report on Monday, August 1st.
In other news, CEO Clive Meanwell sold 8,623 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $13,911,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDCO. Tower Research Capital LLC TRC purchased a new position in The Medicines during the second quarter worth approximately $100,000. BlackRock Inc. raised 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 valued at $145,000 after buying an additional 1,005 shares during the period. Strs Ohio raised 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 valued at $201,000 after buying an additional 1,100 shares during the period. HBK Investments L P bought a new position in shares of The Medicines during the first quarter valued at about $210,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of The Medicines during the second quarter valued at about $258,000.
The Medicines (NASDAQ:MDCO) traded down 2.06% during midday trading on Wednesday, reaching $37.17. The company’s stock had a trading volume of 660,275 shares. The Medicines has a 12 month low of $27.50 and a 12 month high of $43.00. The stock has a 50-day moving average price of $38.09 and a 200 day moving average price of $36.52. The company’s market cap is $2.59 billion.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.54. The company had revenue of $54.70 million for the quarter, compared to analysts’ expectations of $41.93 million. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The Medicines’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.65) EPS. Analysts expect that The Medicines will post ($1.36) earnings per share for the current fiscal year.
The Medicines Company Profile
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).
Receive News & Ratings for The Medicines Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines Co. and related companies with MarketBeat.com's FREE daily email newsletter.