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

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The Medicines Company (NASDAQ:MDCO) has received a consensus rating of “Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $69.67.

Several analysts have recently issued reports on MDCO shares. JPMorgan Chase & Co. lifted their target price on shares of The Medicines from $39.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and issued a $51.00 target price on shares of The Medicines in a research report on Monday, August 26th. Oppenheimer boosted their price target on shares of The Medicines from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Chardan Capital set a $90.00 price target on shares of The Medicines and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, 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 Monday, August 26th.

Shares of NASDAQ MDCO traded up $0.45 during trading on Thursday, hitting $47.78. The company had a trading volume of 44,445 shares, compared to its average volume of 3,185,057. The stock has a fifty day simple moving average of $39.26 and a two-hundred day simple moving average of $33.99. The Medicines has a fifty-two week low of $16.69 and a fifty-two week high of $49.20. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -16.40 and a beta of 0.93. The company has a quick ratio of 5.97, a current ratio of 5.97 and a debt-to-equity ratio of 21.45.

The Medicines (NASDAQ:MDCO) last announced its earnings results on Wednesday, July 24th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. During the same quarter last year, the business posted ($0.63) earnings per share. On average, analysts anticipate that The Medicines will post -3.26 earnings per share for the current year.

In other The Medicines news, EVP Stephen M. Rodin sold 5,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $34.82, for a total value of $174,100.00. Following the transaction, the executive vice president now directly owns 33,139 shares in the company, valued at approximately $1,153,899.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander J. Denner bought 50,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $33.00 per share, for a total transaction of $1,650,000.00. Following the completion of the acquisition, the director now directly owns 14,092 shares in the company, valued at $465,036. The disclosure for this purchase can be found here. Insiders own 8.41% of the company’s stock.

A number of large investors have recently bought and sold shares of MDCO. Bank of Montreal Can boosted its holdings in The Medicines by 13.3% in the 1st quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock valued at $99,000 after purchasing an additional 417 shares during the last quarter. Texas Permanent School Fund boosted its holdings in The Medicines by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 44,635 shares of the company’s stock valued at $1,248,000 after purchasing an additional 1,617 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in The Medicines by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 21,112 shares of the company’s stock valued at $590,000 after purchasing an additional 697 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in The Medicines by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,460 shares of the company’s stock valued at $712,000 after purchasing an additional 460 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of The Medicines by 18.4% in the 1st quarter. New York State Common Retirement Fund now owns 301,260 shares of the company’s stock valued at $8,420,000 after acquiring an additional 46,768 shares during the period.

About The Medicines

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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