Jefferies Group LLC Reiterates “Buy” Rating for The Medicines Company (MDCO)
The Medicines Company (NASDAQ:MDCO)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They currently have a $54.00 target price on the stock. Jefferies Group LLC’s target price would suggest a potential upside of 90.81% from the stock’s current price. Jefferies Group also issued estimates for The Medicines’ Q4 2017 earnings at ($1.72) EPS, FY2017 earnings at ($9.10) EPS, FY2018 earnings at ($3.87) EPS, FY2019 earnings at ($2.52) EPS, FY2020 earnings at ($3.42) EPS and FY2021 earnings at ($4.47) EPS.
Several other brokerages have also recently commented on MDCO. Cowen and Company reissued a “buy” rating and set a $54.00 target price (down previously from $61.00) on shares of The Medicines in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $50.00 target price on The Medicines and gave the stock a “hold” rating in a report on Wednesday, October 4th. TheStreet cut The Medicines from a “c-” rating to a “d” rating in a report on Wednesday, August 9th. Citigroup Inc. dropped their target price on The Medicines from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, August 14th. Finally, Chardan Capital reissued a “buy” rating and set a $85.00 target price (up previously from $80.00) on shares of The Medicines in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $53.18.
Shares of The Medicines (MDCO) traded down 3.90% during mid-day trading on Thursday, reaching $28.30. 2,388,965 shares of the company’s stock traded hands. The Medicines has a 52 week low of $28.00 and a 52 week high of $55.95. The company’s 50 day moving average is $35.52 and its 200-day moving average is $39.71. The firm’s market cap is $2.04 billion.
The Medicines (NASDAQ:MDCO) last announced its earnings results on Wednesday, October 25th. The company reported ($0.42) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.37) by $0.95. The Medicines had a negative return on equity of 149.81% and a negative net margin of 767.94%. The firm had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $26.06 million. During the same quarter in the previous year, the company earned ($0.64) earnings per share. The firm’s quarterly revenue was down 55.1% compared to the same quarter last year. Equities analysts expect that The Medicines will post ($9.21) earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board bought a new position in shares of The Medicines in the second quarter valued at $1,977,000. Federated Investors Inc. PA increased its holdings in shares of The Medicines by 3.4% in the second quarter. Federated Investors Inc. PA now owns 110,574 shares of the company’s stock valued at $4,203,000 after buying an additional 3,611 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of The Medicines by 247.7% in the second quarter. Royal Bank of Canada now owns 117,744 shares of the company’s stock valued at $4,476,000 after buying an additional 83,882 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of The Medicines by 1.6% in the second quarter. Alliancebernstein L.P. now owns 1,213,668 shares of the company’s stock valued at $46,132,000 after buying an additional 19,043 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of The Medicines 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 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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