The Medicines Company (MDCO) Given a $50.00 Price Target by Oppenheimer Holdings, Inc. Analysts
The Medicines Company (NASDAQ:MDCO) has been given a $50.00 price objective by Oppenheimer Holdings, Inc. in a note issued to investors on Wednesday. The firm presently has a “hold” rating on the stock. Oppenheimer Holdings, Inc.’s target price points to a potential upside of 33.80% from the stock’s current price.
MDCO has been the topic of a number of other reports. Zacks Investment Research raised shares of The Medicines from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, August 8th. Citigroup Inc. dropped their price target on shares of The Medicines from $59.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, July 17th. Chardan Capital reissued a “buy” rating and set a $85.00 price target on shares of The Medicines in a research report on Wednesday, September 20th. Jefferies Group LLC reissued a “buy” rating and set a $62.00 price target on shares of The Medicines in a research report on Wednesday, June 28th. Finally, TheStreet lowered shares of The Medicines from a “c-” rating to a “d” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $54.00.
The Medicines (NASDAQ MDCO) traded down 2.35% on Wednesday, hitting $37.37. 1,756,297 shares of the stock traded hands. The Medicines has a 52 week low of $30.80 and a 52 week high of $55.95. The firm’s market capitalization is $2.69 billion. The stock has a 50 day moving average of $36.11 and a 200 day moving average of $41.32.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($4.23). The Medicines had a negative net margin of 670.46% and a negative return on equity of 137.20%. The firm had revenue of $18.74 million for the quarter, compared to the consensus estimate of $29.64 million. During the same period in the previous year, the business earned ($0.62) earnings per share. The firm’s revenue for the quarter was down 65.8% on a year-over-year basis. Equities research analysts anticipate 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 bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in The Medicines by 341.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock worth $104,000 after buying an additional 1,631 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of The Medicines by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock worth $105,000 after purchasing an additional 264 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of The Medicines 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 purchasing an additional 120 shares in the last quarter. US Bancorp DE increased its stake in shares of The Medicines by 1.7% in the first quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after purchasing an additional 58 shares in the last quarter. Finally, First Mercantile Trust Co. increased its stake in shares of The Medicines by 2.5% in the second quarter. First Mercantile Trust Co. now owns 4,767 shares of the company’s stock worth $181,000 after purchasing an additional 114 shares in 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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