The Medicines Company (MDCO) Receives Buy Rating from Jefferies Group
The Medicines Company (NASDAQ:MDCO)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a research report issued to clients and investors on Wednesday. They presently have a $43.00 price objective on the stock. Jefferies Group’s target price suggests a potential upside of 16.88% from the company’s current price.
Several other equities research analysts have also recently weighed in on MDCO. Leerink Swann reissued a “buy” rating on shares of The Medicines Company in a research note on Tuesday, July 19th. Guggenheim boosted their target price on The Medicines Company from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Zacks Investment Research upgraded The Medicines Company from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Citigroup Inc. restated a “hold” rating on shares of The Medicines Company in a research report on Tuesday, August 2nd. Finally, Cowen and Company restated a “buy” rating and set a $45.00 target price on shares of The Medicines Company in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The Medicines Company presently has an average rating of “Buy” and a consensus price target of $48.22.
The Medicines Company (NASDAQ:MDCO) opened at 36.79 on Wednesday. The Medicines Company has a 52-week low of $27.50 and a 52-week high of $43.00. The company’s 50-day moving average price is $35.81 and its 200-day moving average price is $36.58. The company’s market cap is $2.58 billion.
The Medicines Company (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($0.64) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.30) by $0.66. The Medicines Company had a negative return on equity of 35.07% and a negative net margin of 96.44%. The company had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $37.26 million. During the same period in the previous year, the firm posted ($0.82) earnings per share. The firm’s revenue for the quarter was down 34.3% on a year-over-year basis. Equities research analysts expect that The Medicines Company will post ($1.34) EPS for the current fiscal year.
In related news, CEO Clive Meanwell sold 1,377 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 339,168 shares of the company’s stock, valued at $13,566,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 7.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of MDCO. BlackRock Inc. increased its position in shares of The Medicines Company 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 period. HBK Investments L P acquired a new position in shares of The Medicines Company during the first quarter worth approximately $210,000. Panagora Asset Management Inc. increased its position in shares of The Medicines Company by 6.3% in the first quarter. Panagora Asset Management Inc. now owns 369,874 shares of the company’s stock worth $11,751,000 after buying an additional 22,081 shares during the period. Bridger Management LLC acquired a new position in shares of The Medicines Company during the first quarter worth approximately $98,528,000. Finally, Squarepoint Ops LLC acquired a new position in shares of The Medicines Company during the first quarter worth approximately $1,555,000.
The Medicines Company 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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