A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC reissued a buy rating and set a $54.00 price objective (down previously from $62.00) on shares of The Medicines in a report on Thursday. Cowen and Company reissued a buy rating and set a $54.00 price objective (down previously from $61.00) on shares of The Medicines in a report on Thursday. Zacks Investment Research raised shares of The Medicines from a hold rating to a buy rating and set a $41.00 price objective on the stock in a report on Tuesday. Citigroup Inc. raised their price objective on shares of The Medicines from $43.00 to $45.00 and gave the stock a neutral rating in a report on Wednesday, July 26th. Finally, ValuEngine raised shares of The Medicines from a strong sell rating to a sell rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The Medicines presently has an average rating of Buy and a consensus price target of $52.36.
The Medicines (MDCO) opened at 37.40 on Wednesday. The stock has a 50 day moving average of $37.99 and a 200-day moving average of $44.48. The stock’s market cap is $2.69 billion. The Medicines has a 12 month low of $30.80 and a 12 month high of $55.95.
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 Medicines had a negative return on equity of 110.52% and a negative net margin of 670.46%. The company had revenue of $18.74 million for the quarter, compared to analyst estimates of $29.64 million. During the same period in the previous year, the business posted ($0.62) EPS. The firm’s revenue for the quarter was down 65.8% compared to the same quarter last year. On average, equities analysts forecast that The Medicines will post ($5.98) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of The Medicines by 1.1% in the second quarter. FMR LLC now owns 10,825,038 shares of the company’s stock worth $411,460,000 after buying an additional 117,982 shares during the period. Vanguard Group Inc. raised its position in shares of The Medicines by 5.4% in the first quarter. Vanguard Group Inc. now owns 6,090,730 shares of the company’s stock worth $297,837,000 after buying an additional 313,876 shares during the period. Aviva Holdings Ltd. acquired a new position in shares of The Medicines during the first quarter worth about $187,477,000. Iridian Asset Management LLC CT raised its position in shares of The Medicines by 21.7% in 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 period. Finally, Westfield Capital Management Co. LP raised its position in shares of The Medicines by 947.1% in 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 period.
About The Medicines
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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