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.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 purchasing an additional 162,702 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in The Medicines by 14.9% during the first quarter. Westfield Capital Management Co. LP now owns 5,290,481 shares of the company’s stock worth $147,869,000 after acquiring an additional 685,762 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in The Medicines by 15.8% during the first quarter. Iridian Asset Management LLC CT now owns 3,817,544 shares of the company’s stock worth $106,700,000 after acquiring an additional 520,728 shares in the last quarter. Maverick Capital Ltd. raised its stake in The Medicines by 8.5% during the first quarter. Maverick Capital Ltd. now owns 3,814,352 shares of the company’s stock worth $106,611,000 after acquiring an additional 299,375 shares in the last quarter. Finally, Northern Trust Corp raised its stake in The Medicines by 0.9% during the first quarter. Northern Trust Corp now owns 862,109 shares of the company’s stock worth $24,095,000 after acquiring an additional 7,721 shares in the last quarter.

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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Analyst Recommendations for The Medicines (NASDAQ:MDCO)

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