The Medicines Co. (MDCO) Earns “Buy” Rating from Jefferies Group
The Medicines Co. (NASDAQ:MDCO)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group in a note issued to investors on Friday. They presently have a $43.00 price objective on the stock. Jefferies Group’s target price suggests a potential upside of 21.43% from the company’s previous close.
Several other research firms also recently weighed in on MDCO. Guggenheim reissued a “buy” rating and issued a $55.00 price target on shares of The Medicines in a research note on Monday, August 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of The Medicines in a research note on Thursday. Zacks Investment Research raised shares of The Medicines from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Leerink Swann reissued a “buy” rating and issued a $53.00 price target on shares of The Medicines in a research note on Thursday, June 23rd. Finally, Bank of America Corp. reissued a “buy” rating on shares of The Medicines in a research note on Tuesday, July 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.33.
The Medicines (NASDAQ:MDCO) traded up 0.23% during trading on Friday, reaching $35.41. The company’s stock had a trading volume of 2,048,424 shares. The firm’s market cap is $2.47 billion. The Medicines has a one year low of $27.50 and a one year high of $43.00. The company has a 50-day moving average of $38.65 and a 200 day moving average of $36.24.
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The Medicines (NASDAQ:MDCO) last posted its quarterly 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 business earned $54.70 million during the quarter, compared to the consensus estimate of $41.93 million. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.65) earnings per share. Analysts expect that The Medicines will post ($1.36) EPS for the current fiscal year.
In related news, Director Hiroaki Shigeta sold 3,849 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $38.50, for a total value of $148,186.50. Following the completion of the transaction, the director now directly owns 23,547 shares of the company’s stock, valued at $906,559.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Clive Meanwell sold 8,623 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $40.00, for a total transaction of $344,920.00. Following the completion of the transaction, the chief executive officer now directly owns 347,791 shares of the company’s stock, valued at $13,911,640. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in 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 last quarter. Mason Street Advisors LLC bought a new position in The Medicines during the second quarter worth about $457,000. Schwab Charles Investment Management Inc. increased its position in 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 last quarter. Amalgamated Bank increased its position in 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 last quarter. Finally, American Century Companies Inc. bought a new position in The Medicines during the second quarter worth about $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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