The Medicines Co. (MDCO) Receives “Buy” Rating from Jefferies Group
A number of other research analysts have also recently commented on MDCO. Leerink Swann reiterated a buy rating and issued a $53.00 price target on shares of The Medicines in a research note on Thursday, June 23rd. Zacks Investment Research upgraded The Medicines from a sell rating to a hold rating in a research note on Tuesday, July 12th. Bank of America Corp. reiterated a buy rating on shares of The Medicines in a research note on Tuesday, July 12th. Royal Bank Of Canada reiterated a buy rating on shares of The Medicines in a research note on Tuesday, July 12th. Finally, Guggenheim increased their price target on The Medicines from $45.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $47.33.
Shares of The Medicines (NASDAQ:MDCO) traded up 2.94% during mid-day trading on Friday, hitting $36.45. The stock had a trading volume of 411,623 shares. The firm’s 50 day moving average price is $38.65 and its 200 day moving average price is $36.24. The Medicines has a 1-year low of $27.50 and a 1-year high of $43.00. The company’s market cap is $2.54 billion.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.16) by $0.54. The Medicines had a negative return on equity of 34.20% and a negative net margin of 90.33%. The company earned $54.70 million during the quarter, compared to analysts’ expectations of $41.93 million. During the same period in the prior year, the company earned ($0.65) EPS. The Medicines’s revenue was down 26.5% compared to the same quarter last year. Analysts predict that The Medicines will post ($1.36) earnings per share for the current fiscal year.
In related news, CEO Clive Meanwell sold 20,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $40.00, for a total value of $800,000.00. Following the completion of the sale, the chief executive officer now directly owns 358,790 shares in the company, valued at $14,351,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Aperio Group LLC increased its stake in The Medicines by 7.5% in the first quarter. Aperio Group LLC now owns 19,480 shares of the company’s stock worth $619,000 after buying an additional 1,361 shares during the last quarter. Pacad Investment Ltd. bought a new stake in The Medicines during the first quarter worth $337,000. Prudential Financial Inc. increased its stake in The Medicines by 5.4% in the first quarter. Prudential Financial Inc. now owns 169,550 shares of the company’s stock worth $5,387,000 after buying an additional 8,638 shares during the last quarter. Franklin Resources Inc. increased its stake in The Medicines by 2.2% in the first quarter. Franklin Resources Inc. now owns 1,477,054 shares of the company’s stock worth $46,926,000 after buying an additional 32,100 shares during the last quarter. Finally, BlackRock Inc. increased its stake in The Medicines by 28.3% in the first quarter. BlackRock Inc. now owns 4,554 shares of the company’s stock worth $145,000 after buying an additional 1,005 shares during the last quarter.
About The Medicines
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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