Citigroup Inc. Trims The Medicines Company (NASDAQ:MDCO) Target Price to $43.00
The Medicines Company (NASDAQ:MDCO) had its price objective lowered by analysts at Citigroup Inc. from $59.00 to $43.00 in a report issued on Monday. The firm presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 12.33% from the company’s previous close.
A number of other analysts also recently commented on MDCO. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of The Medicines in a report on Monday, March 20th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $62.00 price target on shares of The Medicines in a report on Wednesday, April 12th. Cowen and Company upped their price target on shares of The Medicines from $39.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. ValuEngine downgraded shares of The Medicines from a “sell” rating to a “strong sell” rating in a report on Saturday, May 20th. Finally, Oppenheimer Holdings, Inc. assumed coverage on shares of The Medicines in a report on Monday, May 22nd. They issued a “market perform” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The Medicines presently has a consensus rating of “Buy” and an average target price of $53.36.
The Medicines (NASDAQ MDCO) traded down 1.03% during midday trading on Monday, reaching $38.30. 698,552 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $40.22 and its 200-day moving average price is $44.14. The company’s market capitalization is $2.72 billion. The Medicines has a 1-year low of $30.80 and a 1-year high of $55.95.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Wednesday, April 26th. The company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by $0.31. The company had revenue of $24.20 million for the quarter, compared to analysts’ expectations of $37.76 million. The Medicines had a negative return on equity of 19.09% and a negative net margin of 91.25%. The firm’s quarterly revenue was down 51.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.03) EPS. Equities analysts expect that The Medicines will post ($5.97) EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake in The Medicines by 80.1% in the second quarter. State of Alaska Department of Revenue now owns 14,249 shares of the company’s stock valued at $541,000 after buying an additional 6,339 shares during the last quarter. Creative Planning raised its stake in The Medicines by 502,900.0% in the second quarter. Creative Planning now owns 150,900 shares of the company’s stock valued at $5,736,000 after buying an additional 150,870 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in The Medicines during the first quarter valued at about $209,000. Point72 Asset Management L.P. acquired a new stake in The Medicines during the first quarter valued at about $3,936,000. Finally, Fayerweather Charles acquired a new stake in The Medicines during the first quarter valued at about $428,000.
The Medicines Company Profile
The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).
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