Shares of The Medicines Co. (NASDAQ:MDCO) rose 2.6% during trading on Friday . The company traded as high as $40.25 and last traded at $39.81, with a volume of 1,096,544 shares. The stock had previously closed at $38.81.

MDCO has been the topic of a number of research analyst reports. Cowen and Company reissued a “buy” rating on shares of The Medicines in a report on Tuesday, May 10th. Jefferies Group reissued a “buy” rating and set a $44.00 price objective on shares of The Medicines in a report on Friday, May 6th. Leerink Swann reissued a “buy” rating and set a $53.00 price objective on shares of The Medicines in a report on Thursday, June 23rd. Chardan Capital reaffirmed a “buy” rating on shares of The Medicines in a report on Thursday, June 2nd. Finally, Guggenheim upped their price target on shares of The Medicines from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $47.33.

The firm’s 50-day moving average price is $37.25 and its 200-day moving average price is $34.89. The stock’s market capitalization is $2.78 billion.

The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.16) by $0.54. The firm earned $54.70 million during the quarter, compared to analyst estimates of $41.93 million. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.65) EPS. On average, equities research analysts forecast that The Medicines Co. will post ($1.36) EPS for the current year.

In other news, EVP Christopher T. Cox bought 53,340 shares of The Medicines stock in a transaction dated Tuesday, June 7th. The shares were bought at an average price of $37.55 per share, for a total transaction of $2,002,917.00. Following the purchase, the executive vice president now owns 20,800 shares of the company’s stock, valued at $781,040. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher T. Cox bought 45,985 shares of The Medicines stock in a transaction dated Friday, June 10th. The stock was purchased at an average price of $37.90 per share, for a total transaction of $1,742,831.50. Following the purchase, the executive vice president now directly owns 33,670 shares in the company, valued at approximately $1,276,093. The disclosure for this purchase can be found here.

Several large investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in shares of The Medicines by 20.1% in the fourth quarter. US Bancorp DE now owns 28,684 shares of the company’s stock valued at $1,071,000 after buying an additional 4,794 shares in the last quarter. New York State Common Retirement Fund boosted its position in The Medicines by 13.2% in the fourth quarter. New York State Common Retirement Fund now owns 70,394 shares of the company’s stock worth $2,629,000 after buying an additional 8,194 shares in the last quarter. Bank of Montreal Can boosted its position in The Medicines by 29.4% in the fourth quarter. Bank of Montreal Can now owns 297,492 shares of the company’s stock worth $11,108,000 after buying an additional 67,616 shares in the last quarter. Principal Financial Group Inc. boosted its position in The Medicines by 8.5% in the fourth quarter. Principal Financial Group Inc. now owns 468,857 shares of the company’s stock worth $17,507,000 after buying an additional 36,761 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in The Medicines by 2.3% in the fourth quarter. Jennison Associates LLC now owns 920,383 shares of the company’s stock worth $34,367,000 after buying an additional 21,068 shares in the last quarter.

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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