The Medicines (NASDAQ: MDCO) recently received a number of ratings updates from brokerages and research firms:
- 5/16/2019 – The Medicines was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “The Medicines Company reported mixed Q1 results wherein loss was narrower than expected but sales missed estimates. The company's pipeline boasts a potential blockbuster candidate, inclisiran, being developed for hypercholesterolemia. Moreover, the company implemented a workforce lay-off last year for better alignment of its cost and structure. We are also encouraged by The Medicines Co.’s divestiture of marketed products to focus on inclisiran. This will optimize its capital structure and enhance its liquidity position. However, with divestment of its marketed products, it has become all the more necessary for the company to successfully develop and bring in new products to the market for growth. Any regulatory setback will weigh heavily on the stock. Shares of the company have outperformed the industry so far this year.”
- 4/26/2019 – The Medicines was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 4/26/2019 – The Medicines had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $90.00 price target on the stock, up previously from $85.00.
- 4/26/2019 – The Medicines was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating. They now have a $55.00 price target on the stock, up previously from $25.00.
- 3/27/2019 – The Medicines is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $80.00 price target on the stock.
- 3/21/2019 – The Medicines is now covered by analysts at Roth Capital. They set a “buy” rating and a $75.00 price target on the stock.
MDCO stock traded up $0.98 during midday trading on Thursday, hitting $33.10. 15,848 shares of the company traded hands, compared to its average volume of 1,065,020. The Medicines Company has a twelve month low of $16.69 and a twelve month high of $41.57. The company has a market cap of $2.33 billion, a PE ratio of -11.37 and a beta of 1.36.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.09). During the same quarter in the prior year, the business posted ($0.76) earnings per share. The business’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, sell-side analysts expect that The Medicines Company will post -2.74 earnings per share for the current fiscal year.
In other The Medicines news, Director Alexander J. Denner acquired 248,100 shares of The Medicines stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $24.91 per share, with a total value of $6,180,171.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander J. Denner acquired 100,000 shares of The Medicines stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $25.15 per share, with a total value of $2,515,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 673,100 shares of company stock worth $16,966,421. Corporate insiders own 10.29% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its position in The Medicines by 13.3% in the first quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after purchasing an additional 417 shares during the period. Oregon Public Employees Retirement Fund lifted its position in The Medicines by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,460 shares of the company’s stock worth $712,000 after purchasing an additional 460 shares during the period. Piedmont Investment Advisors Inc. lifted its position in The Medicines by 3.4% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 15,698 shares of the company’s stock worth $300,000 after purchasing an additional 517 shares during the period. State of Alaska Department of Revenue lifted its position in The Medicines by 3.2% in the fourth quarter. State of Alaska Department of Revenue now owns 22,020 shares of the company’s stock worth $421,000 after purchasing an additional 681 shares during the period. Finally, Mason Street Advisors LLC lifted its position in The Medicines by 3.4% in the first quarter. Mason Street Advisors LLC now owns 21,112 shares of the company’s stock worth $590,000 after purchasing an additional 697 shares during the period.
The Medicines Company, a biopharmaceutical company, focuses on developing therapeutics for the treatment of therosclerotic cardiovascular disease. The company is developing Inclisiran, an investigational RNA interference therapeutic that inhibits production of proprotein convertase subtilisin/kexin type 9, which controls LDL-cholesterol levels.
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