Shares of The Medicines Company (NASDAQ:MDCO) have earned a consensus rating of “Buy” from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $70.77.
A number of brokerages recently issued reports on MDCO. Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “sell” rating and set a $40.00 price objective for the company. in a report on Tuesday, July 30th. Piper Jaffray Companies reiterated a “positive” rating and issued a $145.00 price target (up previously from $142.00) on shares of The Medicines in a report on Monday, September 2nd. JPMorgan Chase & Co. boosted their price objective on shares of The Medicines from $39.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Oppenheimer upped their price target on shares of The Medicines from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group lowered shares of The Medicines from a “buy” rating to a “hold” rating and upped their price target for the stock from $44.00 to $50.00 in a research report on Thursday, October 10th.
Shares of The Medicines stock traded up $0.64 during trading on Friday, hitting $55.01. 857,700 shares of the company’s stock traded hands, compared to its average volume of 1,539,007. The company has a debt-to-equity ratio of 21.45, a current ratio of 0.77 and a quick ratio of 0.77. The firm’s fifty day moving average price is $52.53 and its 200 day moving average price is $40.30. The Medicines has a twelve month low of $16.69 and a twelve month high of $58.48. The company has a market cap of $4.28 billion, a PE ratio of -18.90 and a beta of 0.90.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.12). During the same quarter in the previous year, the company earned ($0.70) EPS. As a group, equities research analysts anticipate that The Medicines will post -3.4 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in MDCO. Vivo Capital LLC bought a new stake in The Medicines in the 2nd quarter valued at about $24,399,000. Balyasny Asset Management LLC grew its holdings in shares of The Medicines by 132.1% during the second quarter. Balyasny Asset Management LLC now owns 129,837 shares of the company’s stock worth $4,735,000 after purchasing an additional 534,837 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of The Medicines by 6.6% during the second quarter. Vanguard Group Inc. now owns 7,438,930 shares of the company’s stock worth $271,297,000 after purchasing an additional 460,064 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of The Medicines during the second quarter worth about $16,547,000. Finally, Renaissance Technologies LLC purchased a new position in shares of The Medicines during the second quarter worth about $12,890,000.
The Medicines Company Profile
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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