The Medicines Company (NASDAQ:MDCO) Receives Consensus Rating of “Buy” from Analysts

Shares of The Medicines Company (NASDAQ:MDCO) have received a consensus rating of “Buy” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $61.70.

Several analysts have issued reports on the stock. Goldman Sachs Group reaffirmed a “buy” rating and set a $68.00 price target on shares of Total in a research report on Friday, April 26th. Chardan Capital reaffirmed a “buy” rating and set a $90.00 price target (up from $85.00) on shares of The Medicines in a research report on Friday, April 26th. B. Riley set a $61.00 price target on shares of The Medicines and gave the stock a “buy” rating in a research report on Tuesday, May 28th. BidaskClub downgraded shares of Zagg from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Finally, Roth Capital set a $14.00 price objective on shares of Enphase Energy and gave the company a “buy” rating in a report on Thursday, March 21st.

In related news, Director Alexander J. Denner acquired 431,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $33.89 per share, for a total transaction of $14,606,590.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexander J. Denner purchased 160,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average price of $34.50 per share, for a total transaction of $5,520,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 726,000 shares of company stock worth $24,737,140. Corporate insiders own 10.29% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MDCO. Advisory Services Network LLC grew its stake in shares of The Medicines by 196.7% in the fourth quarter. Advisory Services Network LLC now owns 4,450 shares of the company’s stock valued at $85,000 after acquiring an additional 2,950 shares in the last quarter. Bank of Montreal Can grew its stake in shares of The Medicines by 13.3% in the first quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock valued at $99,000 after acquiring an additional 417 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of The Medicines by 23.2% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,010 shares of the company’s stock valued at $134,000 after acquiring an additional 1,320 shares in the last quarter. Neuburgh Advisers LLC grew its stake in shares of The Medicines by 29.2% in the fourth quarter. Neuburgh Advisers LLC now owns 10,428 shares of the company’s stock valued at $200,000 after acquiring an additional 2,354 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in shares of The Medicines in the fourth quarter valued at about $206,000.

NASDAQ MDCO traded down $1.76 on Friday, hitting $36.68. 1,130,923 shares of the stock were exchanged, compared to its average volume of 1,920,821. The business has a fifty day simple moving average of $36.13. The Medicines has a 52 week low of $16.69 and a 52 week high of $41.57. The stock has a market capitalization of $2.85 billion, a P/E ratio of -12.60 and a beta of 1.08.

The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.09). During the same period in the previous year, the company earned ($0.76) EPS. The Medicines’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, equities analysts forecast that The Medicines will post -2.74 earnings per share for the current fiscal year.

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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Analyst Recommendations for The Medicines (NASDAQ:MDCO)

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