The Medicines Co. (NASDAQ:MDCO) shot up 3.5% during mid-day trading on Tuesday . The stock traded as high as $39.89 and last traded at $39.74, with a volume of 304,553 shares. The stock had previously closed at $38.38.

Several brokerages have issued reports on MDCO. Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Medicines in a research note on Tuesday, July 12th. Citigroup Inc. reaffirmed a “hold” rating on shares of The Medicines in a research note on Tuesday, August 2nd. Cowen and Company reaffirmed a “buy” rating and set a $45.00 price target on shares of The Medicines in a research note on Friday, August 5th. Leerink Swann reaffirmed a “buy” rating on shares of The Medicines in a research note on Tuesday, July 19th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of The Medicines in a research note on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $47.33.

The company’s 50-day moving average price is $38.27 and its 200-day moving average price is $35.62. The firm’s market capitalization is $2.78 billion.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/the-medicines-co-mdco-shares-up-3-5.html

The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping 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 business earned $54.70 million during the quarter, compared to analyst estimates of $41.93 million. During the same quarter in the prior year, the business posted ($0.65) EPS. The Medicines’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, equities research analysts forecast that The Medicines Co. will post ($1.36) earnings per share for the current fiscal year.

In other The Medicines news, Director Hiroaki Shigeta sold 3,849 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $38.50, for a total value of $148,186.50. Following the completion of the sale, the director now owns 23,547 shares in the company, valued at approximately $906,559.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 358,790 shares of the company’s stock, valued at approximately $14,351,600. The disclosure for this sale can be found here. 7.90% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of The Medicines during the second quarter worth about $100,000. BlackRock Inc. raised its position in shares of 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. Strs Ohio raised its position in shares of The Medicines by 22.4% in the second quarter. Strs Ohio now owns 6,000 shares of the company’s stock worth $201,000 after buying an additional 1,100 shares during the last quarter. HBK Investments L P purchased a new position in shares of The Medicines during the first quarter worth $210,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of The Medicines during the second quarter worth $258,000.

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).

5 Day Chart for NASDAQ:MDCO

Receive News & Ratings for The Medicines Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines Co. and related companies with MarketBeat.com's FREE daily email newsletter.