Zacks Reiterates Neutral Rating for The Medicines Company (MDCO)
The Medicines Company (NASDAQ:MDCO)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Friday. They currently have a $29.00 price target on the stock. Zacks‘s price target points to a potential upside of 4.39% from the stock’s previous close.
Zacks’ analyst wrote, “The Medicines Co.’s first quarter EPS of $0.22 was below the year-ago EPS of $0.24 but better than the Zacks Consensus Estimate of a loss of $0.13 per share. Revenues rose 13.8% to $177.2 million, missing the Zacks Consensus Estimate of $179 million. Although Angiomax should continue growing, we remain concerned about the earlier-than-expected entry of generics. Meanwhile, we are encouraged to see that management is actively pursuing in-licensing deals and acquisitions to drive long-term growth. We are pleased with the company’s co-promotion deal with AstraZeneca. The Recothrom, ProFibrix and Incline deals also look good to us. The Tenaxis acquisition indicates the company’s efforts to diversify its portfolio and reduce its dependence on Angiomax. We remain Neutral on the stock.”
The Medicines Company (NASDAQ:MDCO) traded up 0.22% on Friday, hitting $27.84. The stock had a trading volume of 229,266 shares. The Medicines Company has a 52 week low of $23.53 and a 52 week high of $41.28. The stock has a 50-day moving average of $25.92 and a 200-day moving average of $31.98. The company has a market cap of $1.786 billion and a price-to-earnings ratio of 82.68.
The Medicines Company (NASDAQ:MDCO) last released its earnings data on Wednesday, April 23rd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.01. The company had revenue of $177.20 million for the quarter, compared to the consensus estimate of $175.60 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts expect that The Medicines Company will post $0.04 EPS for the current fiscal year.
MDCO has been the subject of a number of other recent research reports. Analysts at Leerink Swann downgraded shares of The Medicines Company from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 17th. They now have a $27.00 price target on the stock, down previously from $30.00. Separately, analysts at Piper Jaffray downgraded shares of The Medicines Company from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 2nd. They now have a $29.00 price target on the stock, down previously from $41.00. Finally, analysts at TheStreet downgraded shares of The Medicines Company from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $33.00.
The Medicines Company, is a pharmaceutical company focused on the treatment of critical care patients through the delivery of medicines to the global hospital marketplace.
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