The Medicines Co. (MDCO) PT Raised to $52.00 at RBC Capital Markets
The Medicines Co. (NASDAQ:MDCO) had its target price lifted by equities research analysts at RBC Capital Markets from $45.00 to $52.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the stock. RBC Capital Markets’ target price would indicate a potential upside of 41.88% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of The Medicines in a report on Thursday, October 6th. Guggenheim boosted their price objective 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. Jefferies Group restated a “buy” rating and issued a $43.00 price objective on shares of The Medicines in a report on Wednesday. Cowen and Company restated a “buy” rating and issued a $45.00 price objective on shares of The Medicines in a report on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of The Medicines from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $49.78.
The Medicines (NASDAQ:MDCO) opened at 36.65 on Wednesday. The Medicines has a 12-month low of $27.50 and a 12-month high of $43.00. The company’s market capitalization is $2.57 billion. The stock has a 50 day moving average price of $35.67 and a 200-day moving average price of $36.59.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, October 26th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.66. The Medicines had a negative net margin of 96.44% and a negative return on equity of 35.07%. The company earned $37.60 million during the quarter, compared to analyst estimates of $37.26 million. During the same period in the previous year, the business earned ($0.82) EPS. The firm’s revenue for the quarter was down 34.3% on a year-over-year basis. Equities analysts predict that The Medicines will post ($1.41) EPS for the current fiscal year.
In other news, CEO Clive Meanwell sold 1,377 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 339,168 shares of the company’s stock, valued at approximately $13,566,720. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bridger Management LLC purchased a new position in shares of The Medicines during the first quarter valued at $98,528,000. Capstone Asset Management Co. increased its position in shares of The Medicines by 4.5% in the second quarter. Capstone Asset Management Co. now owns 21,699 shares of the company’s stock valued at $730,000 after buying an additional 940 shares in the last quarter. 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 valued at $145,000 after buying an additional 1,005 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of The Medicines by 4.5% in the second quarter. Ameriprise Financial Inc. now owns 339,057 shares of the company’s stock valued at $11,402,000 after buying an additional 14,662 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of The Medicines by 3.9% in the second quarter. Vanguard Group Inc. now owns 5,423,391 shares of the company’s stock valued at $182,388,000 after buying an additional 202,392 shares in 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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