The Medicines Company (NASDAQ:MDCO) received a $50.00 price objective from Oppenheimer Holdings, Inc. in a research note issued on Wednesday, October 4th. The brokerage currently has a “hold” rating on the stock. Oppenheimer Holdings, Inc.’s price target would indicate a potential upside of 43.35% from the stock’s previous close.
Several other research analysts also recently commented on MDCO. Jefferies Group LLC reissued a “buy” rating and issued a $62.00 target price on shares of The Medicines in a report on Wednesday, June 28th. Citigroup Inc. reduced their target price on The Medicines from $59.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, July 17th. Zacks Investment Research raised The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, August 8th. Cowen and Company reissued a “buy” rating and issued a $54.00 target price (down from $61.00) on shares of The Medicines in a report on Thursday, August 10th. Finally, TheStreet downgraded The Medicines from a “c-” rating to a “d” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $54.00.
The Medicines (NASDAQ MDCO) opened at 34.88 on Wednesday. The Medicines has a 52 week low of $30.80 and a 52 week high of $55.95. The stock’s market cap is $2.51 billion. The stock has a 50 day moving average price of $36.27 and a 200 day moving average price of $40.56.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($4.23). The company had revenue of $18.74 million for the quarter, compared to analyst estimates of $29.64 million. The Medicines had a negative net margin of 670.46% and a negative return on equity of 137.20%. The firm’s revenue for the quarter was down 65.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.62) earnings per share. On average, equities analysts predict that The Medicines will post ($9.66) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in MDCO. Aviva Holdings Ltd. bought a new position in The Medicines during the first quarter worth $187,477,000. Westfield Capital Management Co. LP raised its stake in The Medicines by 947.1% during the second quarter. Westfield Capital Management Co. LP now owns 2,031,359 shares of the company’s stock worth $77,212,000 after buying an additional 1,837,359 shares during the last quarter. Blue Ridge Capital L.L.C. bought a new position in The Medicines during the first quarter worth $53,790,000. Iridian Asset Management LLC CT raised its stake in The Medicines by 21.7% during the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock worth $139,791,000 after buying an additional 655,065 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in The Medicines by 24.1% during the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock worth $67,093,000 after buying an additional 343,160 shares during the last quarter.
The Medicines Company Profile
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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