The Medicines Company (MDCO) Receives Consensus Recommendation of “Buy” from Analysts
Shares of The Medicines Company (NASDAQ:MDCO) have been given an average recommendation of “Buy” by the twelve research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $62.63.
MDCO has been the subject of a number of research analyst reports. Robert W. Baird initiated coverage on The Medicines in a report on Wednesday, March 27th. They set an “outperform” rating and a $80.00 price target for the company. BidaskClub upgraded The Medicines from a “buy” rating to a “strong-buy” rating in a report on Friday, March 15th. ValuEngine upgraded The Medicines from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Chardan Capital reiterated a “buy” rating and set a $90.00 price target (up from $85.00) on shares of The Medicines in a report on Friday, April 26th. Finally, Roth Capital initiated coverage on The Medicines in a report on Thursday, March 21st. They set a “buy” rating and a $75.00 price target for the company.
In other news, Director Alexander J. Denner bought 248,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average cost of $24.91 per share, for a total transaction of $6,180,171.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander J. Denner bought 325,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $25.45 per share, with a total value of $8,271,250.00. The disclosure for this purchase can be found here. Insiders purchased 673,100 shares of company stock valued at $16,966,421 over the last 90 days. 10.29% of the stock is currently owned by corporate insiders.
The Medicines stock traded up $0.18 during trading hours on Friday, reaching $33.28. 12,841 shares of the company were exchanged, compared to its average volume of 894,424. The stock has a market capitalization of $2.37 billion, a P/E ratio of -11.37 and a beta of 1.36. The Medicines has a 12 month low of $16.69 and a 12 month high of $41.57.
The Medicines (NASDAQ:MDCO) last announced its earnings results on Thursday, April 25th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.09). During the same period in the previous year, the company earned ($0.76) earnings per share. The business’s revenue was down 100.0% compared to the same quarter last year. Analysts expect that The Medicines will post -2.74 EPS for the current 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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