The Medicines Co. (MDCO) Receives “Buy” Rating from Guggenheim
A number of other brokerages also recently weighed in on MDCO. Royal Bank Of Canada boosted their price target on shares of The Medicines from $45.00 to $52.00 and gave the stock an outperform rating in a report on Wednesday, November 16th. RBC Capital Markets boosted their price target on shares of The Medicines from $45.00 to $52.00 and gave the stock an outperform rating in a report on Wednesday, November 16th. Jefferies Group reissued a buy rating and issued a $43.00 price target on shares of The Medicines in a report on Wednesday, November 16th. Leerink Swann reissued an outperform rating and issued a $50.00 price target (down from $53.00) on shares of The Medicines in a report on Tuesday, November 8th. Finally, Zacks Investment Research raised shares of The Medicines from a sell rating to a hold rating in a report on Tuesday, October 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The Medicines has an average rating of Buy and a consensus target price of $49.78.
The Medicines (NASDAQ:MDCO) traded down 0.57% during trading on Friday, reaching $36.42. 129,691 shares of the company’s stock traded hands. The company’s 50 day moving average is $35.63 and its 200-day moving average is $36.60. The stock’s market cap is $2.56 billion. The Medicines has a 52-week low of $27.50 and a 52-week high of $43.00.
The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, October 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm earned $37.60 million during the quarter, compared to analyst estimates of $37.26 million. During the same quarter in the prior year, the business posted ($0.82) EPS. The business’s revenue was down 34.3% compared to the same quarter last year. On average, analysts anticipate that The Medicines will post ($1.41) earnings per share for the current fiscal year.
In other The Medicines news, CEO Clive Meanwell sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $40.00, for a total transaction of $800,000.00. Following the transaction, the chief executive officer now directly owns 358,790 shares in the company, valued at $14,351,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. RTW Investments LLC acquired a new position in shares of The Medicines during the third quarter worth approximately $4,642,000. Price T Rowe Associates Inc. MD raised its stake in The Medicines by 0.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,462,086 shares of the company’s stock worth $55,179,000 after buying an additional 13,586 shares during the period. Ashford Capital Management Inc. raised its stake in The Medicines by 1.4% in the third quarter. Ashford Capital Management Inc. now owns 373,657 shares of the company’s stock worth $14,102,000 after buying an additional 5,265 shares during the period. Candriam Luxembourg S.C.A. raised its stake in The Medicines by 32.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 99,000 shares of the company’s stock worth $3,736,000 after buying an additional 24,000 shares during the period. Finally, Endurant Capital Management LP bought a new stake in The Medicines during the third quarter worth $777,000.
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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