The Medicines Company (MDCO) Rating Reiterated by Jefferies Group LLC
The Medicines Company (NASDAQ:MDCO)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a research report issued on Thursday. They presently have a $54.00 price target on the stock, down from their prior price target of $62.00. Jefferies Group LLC’s target price would indicate a potential upside of 50.42% from the stock’s previous close.
Several other brokerages also recently weighed in on MDCO. Cowen and Company upped their target price on shares of The Medicines from $39.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Oppenheimer Holdings, Inc. assumed coverage on shares of The Medicines in a research note on Monday, May 22nd. They set a “market perform” rating and a $50.00 target price on the stock. ValuEngine downgraded shares of The Medicines from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 20th. CIBC set a $50.00 target price on shares of The Medicines in a research note on Tuesday, May 23rd. Finally, Citigroup Inc. upped their target price on shares of The Medicines from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.36.
The Medicines (NASDAQ MDCO) traded down 4.80% during mid-day trading on Thursday, reaching $35.90. 2,039,539 shares of the company were exchanged. The company has a 50 day moving average of $38.10 and a 200-day moving average of $44.52. The Medicines has a 1-year low of $30.80 and a 1-year high of $55.95. The company’s market capitalization is $2.55 billion.
The Medicines (NASDAQ:MDCO) last announced its earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing the consensus estimate of ($1.29) by $4.23. The Medicines had a negative return on equity of 19.09% and a negative net margin of 91.25%. The business had revenue of $18.74 million for the quarter, compared to analysts’ expectations of $29.64 million. During the same period in the previous year, the company earned ($0.62) earnings per share. The Medicines’s quarterly revenue was down 65.8% on a year-over-year basis. On average, equities research analysts forecast that The Medicines will post ($5.98) EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 264 shares in the last quarter. Envestnet Asset Management Inc. boosted 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 buying an additional 120 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of The Medicines by 12.4% in the first quarter. Neuburgh Advisers LLC now owns 2,596 shares of the company’s stock worth $127,000 after buying an additional 286 shares in the last quarter. Finally, Tyers Asset Management LLC boosted its stake in shares of The Medicines by 12.4% in the first quarter. Tyers Asset Management LLC now owns 3,304 shares of the company’s stock worth $162,000 after buying an additional 364 shares in the last quarter.
The Medicines Company Profile
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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