The Medicines Co. (MDCO) Receives Outperform Rating from Leerink Swann
The Medicines Co. (NASDAQ:MDCO)‘s stock had its “outperform” rating restated by research analysts at Leerink Swann in a research report issued on Saturday.
Several other brokerages also recently commented on MDCO. Jefferies Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of The Medicines in a research note on Friday. Guggenheim reiterated a “buy” rating and set a $55.00 price target on shares of The Medicines in a research report on Monday, August 15th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of The Medicines in a research report on Thursday. Zacks Investment Research upgraded shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Bank of America Corp. reiterated a “buy” rating on shares of The Medicines in a research report on Tuesday, July 12th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The Medicines presently has a consensus rating of “Buy” and a consensus target price of $47.33.
The Medicines (NASDAQ:MDCO) opened at 35.41 on Friday. The Medicines has a 52-week low of $27.50 and a 52-week high of $43.00. The firm’s 50 day moving average is $38.65 and its 200 day moving average is $36.24. The company’s market cap is $2.47 billion.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.54. The firm 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 company’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.65) earnings per share. Analysts forecast that The Medicines will post ($1.36) EPS for the current fiscal year.
In other news, CEO Clive Meanwell sold 1,377 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $40.00, for a total transaction of $55,080.00. Following the sale, the chief executive officer now owns 339,168 shares in the company, valued at $13,566,720. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Hiroaki Shigeta sold 3,849 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $38.50, for a total transaction of $148,186.50. Following the sale, the director now owns 23,547 shares in the company, valued at approximately $906,559.50. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of MDCO. Bridger Management LLC purchased a new stake in The Medicines during the first quarter worth approximately $98,528,000. Capstone Asset Management Co. boosted its stake in The Medicines by 4.5% in the second quarter. Capstone Asset Management Co. now owns 21,699 shares of the company’s stock worth $730,000 after buying an additional 940 shares during the last quarter. BlackRock Inc. boosted its stake in 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. Pacad Investment Ltd. purchased a new stake in The Medicines during the first quarter worth approximately $337,000. Finally, Opus Point Partners Management LLC boosted its stake in The Medicines by 62.0% in the first quarter. Opus Point Partners Management LLC now owns 40,500 shares of the company’s stock worth $1,287,000 after buying an additional 15,500 shares during the last quarter.
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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