The Medicines Company (MDCO) Given a $50.00 Price Target at Oppenheimer Holdings, Inc.
The Medicines Company (NASDAQ:MDCO) has been assigned a $50.00 price target by research analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Wednesday. The firm presently has a “hold” rating on the stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 33.80% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. Citigroup Inc. lowered their price objective on The Medicines from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, August 14th. Cowen and Company reaffirmed a “buy” rating and set a $54.00 price objective (down from $61.00) on shares of The Medicines in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 price objective (down from $62.00) on shares of The Medicines in a research report on Thursday, August 10th. TheStreet cut The Medicines from a “c-” rating to a “d” rating in a research report on Wednesday, August 9th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $85.00 price objective on shares of The Medicines in a research report on Wednesday, September 20th. 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 stock. The stock has an average rating of “Buy” and a consensus target price of $54.00.
Shares of The Medicines (NASDAQ:MDCO) traded down 2.35% during midday trading on Wednesday, reaching $37.37. The company’s stock had a trading volume of 1,756,297 shares. The company’s market cap is $2.69 billion. The stock’s 50-day moving average price is $36.11 and its 200-day moving average price is $41.32. The Medicines has a 12-month low of $30.80 and a 12-month high of $55.95.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($5.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.29) by ($4.23). The business had revenue of $18.74 million for 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 company’s revenue was down 65.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.62) earnings per share. On average, analysts expect that The Medicines will post ($9.69) EPS for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of MDCO. Russell Investments Group Ltd. lifted its position in The Medicines by 134.0% during the 1st quarter. Russell Investments Group Ltd. now owns 23,115 shares of the company’s stock worth $1,130,000 after acquiring an additional 13,237 shares during the period. US Bancorp DE raised its stake in shares of The Medicines by 1.7% during the 1st quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after buying an additional 58 shares in the last quarter. World Asset Management Inc purchased a new position in shares of The Medicines during the 1st quarter worth approximately $221,000. Karp Capital Management Corp purchased a new position in shares of The Medicines during the 1st quarter worth approximately $1,128,000. Finally, Parametric Portfolio Associates LLC raised its stake in shares of The Medicines by 29.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 151,934 shares of the company’s stock worth $7,430,000 after buying an additional 34,407 shares in the last quarter.
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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