The Medicines Company (MDCO) Stock Rating Reaffirmed by Chardan Capital
Chardan Capital reaffirmed their buy rating on shares of The Medicines Company (NASDAQ:MDCO) in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a $85.00 price target on the stock, up from their previous price target of $80.00.
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of The Medicines from a sell rating to a strong sell rating in a report on Saturday, May 20th. Citigroup Inc. lowered their price objective on shares of The Medicines from $45.00 to $44.00 and set a neutral rating for the company in a report on Monday, August 14th. Cowen and Company restated a buy rating and issued a $54.00 price objective (down from $61.00) on shares of The Medicines in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. assumed coverage on shares of The Medicines in a report on Monday, May 22nd. They issued a market perform rating and a $50.00 price objective for the company. Finally, Jefferies Group LLC restated a buy rating and issued a $62.00 price objective on shares of The Medicines in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The Medicines presently has a consensus rating of Buy and a consensus target price of $54.00.
Shares of The Medicines (NASDAQ MDCO) opened at 37.83 on Tuesday. The Medicines has a one year low of $30.80 and a one year high of $55.95. The company’s market cap is $2.72 billion. The stock’s 50 day moving average is $37.27 and its 200-day moving average is $43.96.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.29) by $4.23. The business had revenue of $18.74 million during the quarter, compared to the consensus estimate of $29.64 million. The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The company’s revenue was down 65.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.62) earnings per share. Equities research analysts forecast that The Medicines will post ($9.69) earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of The Medicines by 6.5% in the first quarter. Nisa Investment Advisors LLC now owns 9,480 shares of the company’s stock valued at $464,000 after buying an additional 580 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of The Medicines by 5.0% in the first quarter. State of Alaska Department of Revenue now owns 7,910 shares of the company’s stock valued at $386,000 after buying an additional 380 shares during the last quarter. First Mercantile Trust Co. increased its position in shares of The Medicines by 46.8% in the first quarter. First Mercantile Trust Co. now owns 4,653 shares of the company’s stock valued at $227,000 after buying an additional 1,483 shares during the last quarter. Strs Ohio increased its position in shares of The Medicines by 81.6% in the first quarter. Strs Ohio now owns 8,900 shares of the company’s stock valued at $435,000 after buying an additional 4,000 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of The Medicines by 134.0% in the first quarter. Russell Investments Group Ltd. now owns 23,115 shares of the company’s stock valued at $1,130,000 after buying an additional 13,237 shares during the last quarter.
About The Medicines
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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