The Medicines’ (MDCO) Buy Rating Reiterated at JPMorgan Chase & Co.
A number of other equities research analysts also recently commented on the stock. Jefferies Group restated a buy rating and issued a $43.00 price objective on shares of The Medicines in a research report on Wednesday, August 31st. Guggenheim restated a buy rating and issued a $55.00 price objective on shares of The Medicines in a research report on Monday, August 15th. Cowen and Company restated a buy rating and issued a $45.00 price objective on shares of The Medicines in a research report on Friday, August 5th. Citigroup Inc. restated a hold rating on shares of The Medicines in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded shares of The Medicines from a sell rating to a hold rating in a research report on Monday, August 1st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $47.33.
Shares of The Medicines (NASDAQ:MDCO) opened at 36.83 on Thursday. The stock has a 50 day moving average price of $38.62 and a 200-day moving average price of $36.34. The stock’s market capitalization is $2.57 billion. The Medicines has a 52-week low of $27.50 and a 52-week high of $43.00.
The Medicines (NASDAQ:MDCO) last announced its earnings results on Wednesday, July 27th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.54. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The business earned $54.70 million during the quarter, compared to the consensus estimate of $41.93 million. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. The business’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, equities research analysts predict that The Medicines will post ($1.36) EPS for the current fiscal year.
In other news, CEO Clive Meanwell sold 1,377 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $40.00, for a total transaction of $55,080.00. Following the completion of the transaction, the chief executive officer now directly owns 339,168 shares of the company’s stock, valued at approximately $13,566,720. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of The Medicines by 27.6% in the second quarter. Macquarie Group Ltd. now owns 532,035 shares of the company’s stock worth $17,892,000 after buying an additional 115,218 shares during the period. Mason Street Advisors LLC acquired a new position in shares of The Medicines during the second quarter worth $457,000. Schwab Charles Investment Management Inc. boosted its position in shares of The Medicines by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 266,333 shares of the company’s stock worth $8,957,000 after buying an additional 17,079 shares during the period. Amalgamated Bank boosted its position in shares of The Medicines by 10.2% in the second quarter. Amalgamated Bank now owns 7,818 shares of the company’s stock worth $289,000 after buying an additional 726 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of The Medicines during the second quarter worth $1,939,000.
The Medicines Company Profile
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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