The Medicines Company (MDCO) Given a $50.00 Price Target at CIBC
Other equities analysts have also recently issued reports about the company. J P Morgan Chase & Co reiterated a buy rating on shares of The Medicines Company in a research report on Saturday, March 18th. Jefferies Group LLC reissued a buy rating and set a $62.00 price objective on shares of The Medicines Company in a research note on Wednesday, April 12th. ValuEngine lowered The Medicines Company from a sell rating to a strong sell rating in a research note on Saturday, May 20th. Cowen and Company lifted their price objective on The Medicines Company from $39.00 to $61.00 and gave the company an outperform rating in a research note on Wednesday, April 19th. Finally, Oppenheimer Holdings, Inc. began coverage on The Medicines Company in a research note on Monday, May 22nd. They set a market perform rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The Medicines Company has an average rating of Buy and an average target price of $54.40.
Shares of The Medicines Company (MDCO) traded down 1.38% during trading on Tuesday, reaching $37.09. The company’s stock had a trading volume of 1,335,993 shares. The company’s market cap is $2.64 billion. The stock’s 50 day moving average price is $42.64 and its 200 day moving average price is $43.88. The Medicines Company has a 52 week low of $30.80 and a 52 week high of $55.95.
The Medicines Company (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, April 26th. The company reported ($1.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.13) by $0.31. The company had revenue of $24.20 million during the quarter, compared to analysts’ expectations of $37.76 million. The Medicines Company had a negative net margin of 91.25% and a negative return on equity of 19.09%. The Medicines Company’s revenue for the quarter was down 51.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.03) earnings per share. Equities research analysts predict that The Medicines Company will post ($5.97) EPS for the current year.
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Large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of The Medicines Company by 341.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock valued at $104,000 after buying an additional 1,631 shares during the period. Envestnet Asset Management Inc. raised its stake in The Medicines Company by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock worth $122,000 after buying an additional 120 shares during the period. Neuburgh Advisers LLC raised its stake in The Medicines Company by 12.4% in the first quarter. Neuburgh Advisers LLC now owns 2,596 shares of the company’s stock worth $127,000 after buying an additional 286 shares during the period. Tyers Asset Management LLC bought a new stake in The Medicines Company during the fourth quarter worth $100,000. Finally, US Bancorp DE raised its stake in The Medicines Company by 1.7% in the first quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after buying an additional 58 shares during the period.
The Medicines Company Company Profile
The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).
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