Citigroup Inc. Lowers The Medicines Company (MDCO) Price Target to $44.00
The Medicines Company (NASDAQ:MDCO) had its target price lowered by stock analysts at Citigroup Inc. from $45.00 to $44.00 in a note issued to investors on Monday. The firm presently has a “neutral” rating on the stock. Citigroup Inc.’s target price would indicate a potential upside of 16.09% from the company’s previous close.
Several other research analysts have also commented on MDCO. Cowen and Company reiterated a “buy” rating and issued a $54.00 target price (down previously from $61.00) on shares of The Medicines in a research report on Thursday. Jefferies Group LLC reiterated a “buy” rating and issued a $54.00 target price (down previously from $62.00) on shares of The Medicines in a research report on Thursday. TheStreet lowered The Medicines from a “c-” rating to a “d” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, August 8th. Finally, CIBC set a $50.00 target price on The Medicines in a research report on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $52.27.
Shares of The Medicines (NASDAQ MDCO) traded up 1.34% during midday trading on Monday, reaching $37.90. The company’s stock had a trading volume of 1,371,300 shares. The firm’s market capitalization is $2.73 billion. The company’s 50-day moving average price is $37.97 and its 200 day moving average price is $44.65. The Medicines has a 1-year low of $30.80 and a 1-year high of $55.95.
The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, August 9th. The company reported ($5.52) EPS for the quarter, missing the consensus estimate of ($1.29) by $4.23. The firm had revenue of $18.74 million during the quarter, compared to analyst estimates of $29.64 million. The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The Medicines’s revenue was down 65.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.62) EPS. On average, equities research analysts forecast that The Medicines will post ($5.98) earnings per share for the current year.
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Hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of The Medicines by 1.1% in the second quarter. FMR LLC now owns 10,825,038 shares of the company’s stock valued at $411,460,000 after buying an additional 117,982 shares during the period. Vanguard Group Inc. increased its stake in shares of The Medicines by 5.4% in the first quarter. Vanguard Group Inc. now owns 6,090,730 shares of the company’s stock valued at $297,837,000 after buying an additional 313,876 shares during the period. Aviva Holdings Ltd. bought a new stake in shares of The Medicines during the first quarter valued at about $187,477,000. Iridian Asset Management LLC CT increased its stake in shares of The Medicines by 21.7% in the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock valued at $139,791,000 after buying an additional 655,065 shares during the period. Finally, State Street Corp increased its stake in shares of The Medicines by 9.0% in the second quarter. State Street Corp now owns 2,220,199 shares of the company’s stock valued at $84,391,000 after buying an additional 183,086 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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