The Medicines Company (MDCO) PT Raised to $45.00
The Medicines Company (NASDAQ:MDCO) had its price objective raised by equities research analysts at Citigroup Inc. from $43.00 to $45.00 in a research note issued to investors on Wednesday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 17.40% from the stock’s previous close.
MDCO has been the subject of several other reports. ValuEngine raised shares of The Medicines from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. CIBC set a $50.00 target price on shares of The Medicines in a research note on Tuesday, May 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of The Medicines in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. started coverage on shares of The Medicines in a research note on Monday, May 22nd. They set a “market perform” rating and a $50.00 target price for the company. Finally, Cowen and Company raised their target price on shares of The Medicines from $39.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. 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 stock presently has a consensus rating of “Buy” and a consensus price target of $53.55.
The Medicines (NASDAQ:MDCO) traded down 1.03% on Wednesday, hitting $38.33. 1,034,050 shares of the stock were exchanged. The Medicines has a 12 month low of $30.80 and a 12 month high of $55.95. The firm’s market cap is $2.72 billion. The company has a 50-day moving average of $38.42 and a 200 day moving average of $44.57.
The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, April 26th. The company reported ($1.44) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 net margin of 91.25% and a negative return on equity of 19.09%. The business’s revenue was down 51.9% on a year-over-year basis. During the same period in the previous year, the business posted ($1.03) earnings per share. Equities research analysts expect that The Medicines will post ($5.97) earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Aviva Holdings Ltd. purchased a new stake in The Medicines during the first quarter valued at about $187,477,000. Iridian Asset Management LLC CT raised its stake in The Medicines by 218.7% in the first quarter. Iridian Asset Management LLC CT now owns 3,022,681 shares of the company’s stock valued at $147,809,000 after buying an additional 2,074,261 shares during the period. Blue Ridge Capital L.L.C. purchased a new stake in The Medicines during the first quarter valued at about $53,790,000. Norges Bank purchased a new stake in The Medicines during the fourth quarter valued at about $22,599,000. Finally, Frontier Capital Management Co. LLC raised its stake in The Medicines by 139.9% in the first quarter. Frontier Capital Management Co. LLC now owns 604,020 shares of the company’s stock valued at $29,537,000 after buying an additional 352,230 shares during the period.
About The Medicines
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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