The Medicines Company (MDCO) Rating Reiterated by Jefferies Group LLC
The Medicines Company (NASDAQ:MDCO)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $54.00 price target on the stock. Jefferies Group LLC’s price target indicates a potential upside of 63.54% from the company’s previous close.
Several other research firms also recently weighed in on MDCO. Oppenheimer Holdings, Inc. assumed coverage on The Medicines in a research note on Monday, May 22nd. They set a “market perform” rating and a $50.00 price target on the stock. ValuEngine downgraded The Medicines from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 20th. CIBC set a $50.00 price target on The Medicines in a research note on Tuesday, May 23rd. Citigroup Inc. boosted their price target on The Medicines from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. Finally, Chardan Capital reiterated a “buy” rating and set a $85.00 price target (up previously from $80.00) on shares of The Medicines in a research note on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $54.00.
The Medicines (NASDAQ:MDCO) traded down 1.43% on Thursday, reaching $33.02. The company’s stock had a trading volume of 1,095,451 shares. The company’s market capitalization is $2.37 billion. The firm’s 50 day moving average price is $36.84 and its 200-day moving average price is $43.14. The Medicines has a 1-year low of $30.80 and a 1-year high of $55.95.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.29) by ($4.23). The firm had revenue of $18.74 million for the quarter, compared to analysts’ expectations of $29.64 million. The Medicines had a negative net margin of 670.46% and a negative return on equity of 137.20%. The firm’s revenue for the quarter was down 65.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.62) EPS. Equities analysts forecast that The Medicines will post ($9.69) earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its holdings in shares of The Medicines by 0.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 15,850 shares of the company’s stock valued at $775,000 after buying an additional 50 shares during the period. US Bancorp DE lifted its holdings in shares of The Medicines by 1.7% in the 1st quarter. US Bancorp DE now owns 3,413 shares of the company’s stock valued at $167,000 after buying an additional 58 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of The Medicines by 2.5% in the 2nd quarter. First Mercantile Trust Co. now owns 4,767 shares of the company’s stock valued at $181,000 after buying an additional 114 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of The Medicines by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock valued at $122,000 after buying an additional 120 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of The Medicines by 0.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 39,599 shares of the company’s stock valued at $1,505,000 after buying an additional 219 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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