The Medicines Co. (MDCO) Given “Buy” Rating at Jefferies Group
The Medicines Co. (NASDAQ:MDCO)‘s stock had its “buy” rating restated by equities researchers 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 price objective would suggest a potential upside of 21.43% from the stock’s current price.
MDCO has been the subject of several other research reports. Royal Bank Of Canada restated a “buy” rating on shares of The Medicines in a research note on Tuesday, July 12th. Citigroup Inc. reiterated a “hold” rating on shares of The Medicines in a research report on Tuesday, August 2nd. Cowen and Company reiterated a “buy” rating and set a $45.00 price objective on shares of The Medicines in a research report on Friday, August 5th. Leerink Swann reiterated a “buy” rating on shares of The Medicines in a research report on Tuesday, July 19th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of The Medicines in a research report on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.33.
Shares of The Medicines (NASDAQ:MDCO) traded up 0.23% during mid-day trading on Friday, hitting $35.41. The stock had a trading volume of 2,048,424 shares. The Medicines has a 12 month low of $27.50 and a 12 month high of $43.00. The company’s market cap is $2.47 billion. The stock’s 50-day moving average is $38.65 and its 200 day moving average is $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 Thomson Reuters’ 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 firm earned $54.70 million during the quarter, compared to analysts’ expectations of $41.93 million. During the same quarter in the previous year, the business earned ($0.65) earnings per share. The company’s revenue was down 26.5% on a year-over-year basis. On average, equities research analysts forecast that The Medicines 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 company’s stock in a transaction dated 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 $906,559.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Clive Meanwell sold 20,000 shares of the company’s stock in a transaction dated 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.
A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in The Medicines during the second quarter worth $100,000. BlackRock Inc. raised its position in 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 period. Strs Ohio raised its position in 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 period. HBK Investments L P acquired a new position in The Medicines during the first quarter worth $210,000. Finally, Emerald Acquisition Ltd. acquired a new position in The Medicines during the second quarter worth $258,000.
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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