The Medicines Co. (NASDAQ:MDCO)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a report issued on Friday. They currently have a $43.00 price target on the stock. Jefferies Group’s target price would suggest a potential upside of 16.75% from the company’s current price.
Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of The Medicines in a report on Thursday, October 6th. Guggenheim reaffirmed a “buy” rating and issued a $55.00 price objective on shares of The Medicines in a report on Monday, August 15th. Cowen and Company reissued a “buy” rating and issued a $45.00 price target on shares of The Medicines in a report on Friday, August 5th. Citigroup Inc. reissued a “hold” rating on shares of The Medicines in a report on Tuesday, August 2nd. Finally, Zacks Investment Research raised shares of The Medicines from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The Medicines presently has a consensus rating of “Buy” and an average target price of $47.33.
The Medicines (NASDAQ:MDCO) opened at 36.83 on Friday. The company’s market cap is $2.57 billion. The company’s 50-day moving average price is $38.62 and its 200-day moving average price is $36.34. The Medicines has a 12-month low of $27.50 and a 12-month high of $43.00.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.16) by $0.54. The company earned $54.70 million during the quarter, compared to the consensus estimate 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 for the quarter was down 26.5% on a year-over-year basis. During the same period last year, the firm earned ($0.65) EPS. Equities analysts anticipate that The Medicines will post ($1.36) earnings per share for the current year.
In related news, CEO Clive Meanwell sold 1,377 shares of The Medicines stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $40.00, for a total value of $55,080.00. Following the transaction, the chief executive officer now owns 339,168 shares in the company, valued at approximately $13,566,720. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of 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. boosted 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 boosted 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.
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).
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