The Medicines Company (MDCO) Given Average Rating of “Buy” by Brokerages
Shares of The Medicines Company (NASDAQ:MDCO) have earned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $64.25.
Several research analysts have weighed in on MDCO shares. Robert W. Baird started coverage on The Medicines in a report on Wednesday, March 27th. They set an “outperform” rating and a $80.00 target price on the stock. ValuEngine upgraded The Medicines from a “hold” rating to a “buy” rating in a report on Friday, April 26th. BidaskClub upgraded The Medicines from a “buy” rating to a “strong-buy” rating in a report on Friday, March 15th. Zacks Investment Research lowered The Medicines from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Chardan Capital restated a “buy” rating and issued a $90.00 price target (up from $85.00) on shares of The Medicines in a report on Friday, April 26th.
MDCO stock traded up $0.84 during midday trading on Friday, hitting $35.04. 903,812 shares of the company’s stock were exchanged, compared to its average volume of 1,098,336. The firm has a market cap of $2.49 billion, a PE ratio of -12.04 and a beta of 1.36. The Medicines has a one year low of $16.69 and a one year high of $41.57.
In other news, Director Alexander J. Denner purchased 160,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were bought at an average cost of $34.50 per share, for a total transaction of $5,520,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander J. Denner bought 325,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $25.45 per share, for a total transaction of $8,271,250.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,264,100 shares of company stock worth $37,093,011. Corporate insiders own 10.29% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MDCO. Vanguard Group Inc. increased its position in shares of The Medicines by 2.5% in the third quarter. Vanguard Group Inc. now owns 6,681,573 shares of the company’s stock valued at $199,846,000 after acquiring an additional 162,702 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in shares of The Medicines in the third quarter valued at about $6,275,000. State of Alaska Department of Revenue increased its position in shares of 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 valued at $421,000 after acquiring an additional 681 shares during the last quarter. First Midwest Bank Trust Division acquired a new stake in shares of The Medicines in the fourth quarter valued at about $1,257,000. Finally, Bank of Montreal Can increased its position in shares of The Medicines by 31.9% in the fourth quarter. Bank of Montreal Can now owns 3,139 shares of the company’s stock valued at $59,000 after acquiring an additional 760 shares during the last quarter.
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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