The Medicines Co. (MDCO) Earns “Outperform” Rating from Leerink Swann
The Medicines Co. (NASDAQ:MDCO)‘s stock had its “outperform” rating reiterated by research analysts at Leerink Swann in a research note issued to investors on Saturday.
Other research analysts have also issued reports about the stock. Jefferies Group reissued a “buy” rating and set a $43.00 target price on shares of The Medicines in a research note on Friday. Zacks Investment Research raised shares of The Medicines from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Guggenheim boosted their target price on shares of The Medicines from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. reissued a “buy” rating on shares of The Medicines in a research note on Thursday. Finally, Citigroup Inc. reissued a “hold” rating on shares of The Medicines in a research note on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $47.33.
Shares of The Medicines (NASDAQ:MDCO) opened at 35.41 on Friday. The firm’s market capitalization is $2.47 billion. The Medicines has a 52-week low of $27.50 and a 52-week high of $43.00. The stock has a 50 day moving average of $38.65 and a 200 day moving average of $36.24.
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 https://www.americanbankingnews.com/2016/10/08/the-medicines-co-mdco-earns-outperform-rating-from-leerink-swann.html
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.16) by $0.54. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The business earned $54.70 million during the quarter, compared to analyst estimates of $41.93 million. During the same period in the previous year, the business posted ($0.65) EPS. The company’s quarterly revenue was down 26.5% on a year-over-year basis. On average, analysts predict 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 business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $38.50, for a total value of $148,186.50. Following the sale, the director now directly owns 23,547 shares in the company, valued at approximately $906,559.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clive Meanwell sold 8,623 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 347,791 shares in the company, 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.
Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in The Medicines during the second quarter worth approximately $100,000. BlackRock Inc. increased its stake 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 last quarter. Strs Ohio increased its stake 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 last quarter. HBK Investments L P acquired a new stake in The Medicines during the first quarter worth approximately $210,000. Finally, Emerald Acquisition Ltd. acquired a new stake in The Medicines during the second quarter worth approximately $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).
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.