The Medicines Company (NASDAQ:MDCO) Price Target Increased to $45.00 by Analysts at Citigroup Inc.
The Medicines Company (NASDAQ:MDCO) had its price objective hoisted by Citigroup Inc. from $43.00 to $45.00 in a research note published on Wednesday. The brokerage currently has a neutral rating on the stock.
Other equities analysts have also recently issued reports about the stock. Jefferies Group LLC reissued a buy rating and issued a $62.00 target price on shares of The Medicines in a research note on Wednesday, April 12th. ValuEngine cut shares of The Medicines from a sell rating to a strong sell rating in a research note on Saturday, May 20th. Cowen and Company raised their target price on shares of The Medicines from $39.00 to $61.00 and gave the company an outperform rating in a research note on Wednesday, April 19th. Oppenheimer Holdings, Inc. assumed coverage on shares of The Medicines in a research note on Monday, May 22nd. They issued a market perform rating and a $50.00 target price for the company. Finally, CIBC set a $50.00 target price on shares of The Medicines in a research note on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The Medicines has an average rating of Buy and a consensus target price of $53.55.
The Medicines (NASDAQ MDCO) traded up 1.21% during mid-day trading on Wednesday, hitting $38.41. 522,705 shares of the company traded hands. The Medicines has a one year low of $30.80 and a one year high of $55.95. The company’s 50-day moving average is $38.34 and its 200-day moving average is $44.51. The stock’s market capitalization is $2.73 billion.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings data on Wednesday, April 26th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.13) by $0.31. The Medicines had a negative net margin of 91.25% and a negative return on equity of 19.09%. The business had revenue of $24.20 million during the quarter, compared to analyst estimates of $37.76 million. During the same quarter last year, the business earned ($1.03) earnings per share. The Medicines’s revenue for the quarter was down 51.9% on a year-over-year basis. Analysts predict that The Medicines will post ($5.98) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Aviva Holdings Ltd. bought a new position in The Medicines during the first quarter worth approximately $187,477,000. Iridian Asset Management LLC CT boosted its position in The Medicines by 218.7% in the first quarter. Iridian Asset Management LLC CT now owns 3,022,681 shares of the company’s stock worth $147,809,000 after buying an additional 2,074,261 shares during the period. Blue Ridge Capital L.L.C. bought a new position in The Medicines during the first quarter worth approximately $53,790,000. Norges Bank bought a new position in The Medicines during the fourth quarter worth approximately $22,599,000. Finally, Frontier Capital Management Co. LLC boosted its position in The Medicines by 139.9% in the first quarter. Frontier Capital Management Co. LLC now owns 604,020 shares of the company’s stock worth $29,537,000 after buying an additional 352,230 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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