The Medicines (NASDAQ:MDCO) had its target price boosted by Citigroup from $40.00 to $50.00 in a report issued on Monday, The Fly reports. They currently have a buy rating on the stock.
Other equities analysts have also issued research reports about the company. BidaskClub raised The Medicines from a hold rating to a buy rating in a research report on Tuesday, June 12th. B. Riley initiated coverage on The Medicines in a research report on Thursday, June 7th. They issued a buy rating and a $55.00 price target for the company. ValuEngine raised The Medicines from a hold rating to a buy rating in a research report on Friday, July 6th. Oppenheimer set a $50.00 price target on The Medicines and gave the stock a buy rating in a research report on Thursday, August 16th. Finally, Zacks Investment Research raised The Medicines from a hold rating to a buy rating and set a $44.00 target price for the company in a research report on Tuesday, August 7th. Ten equities research analysts have rated the stock with a buy rating, The Medicines currently has a consensus rating of Buy and an average price target of $52.63.
MDCO opened at $39.49 on Monday. The company has a quick ratio of 2.55, a current ratio of 2.60 and a debt-to-equity ratio of 31.23. The stock has a market capitalization of $2.84 billion, a PE ratio of -4.70 and a beta of 0.75. The Medicines has a 1 year low of $24.45 and a 1 year high of $41.57.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, August 1st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.30. The firm had revenue of $1.67 million during the quarter, compared to analyst estimates of $7.20 million. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The Medicines’s quarterly revenue was down 84.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.72) EPS. sell-side analysts forecast that The Medicines will post -2.51 earnings per share for the current fiscal year.
In other The Medicines news, Director Melvin K. Spigelman sold 7,500 shares of the business’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $32.20, for a total value of $241,500.00. Following the completion of the transaction, the director now owns 60,633 shares of the company’s stock, valued at approximately $1,952,382.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Clive Meanwell sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $39.24, for a total value of $1,962,000.00. Following the completion of the transaction, the chief executive officer now directly owns 352,034 shares of the company’s stock, valued at approximately $13,813,814.16. The disclosure for this sale can be found here. In the last three months, insiders sold 107,500 shares of company stock valued at $4,007,000. 10.29% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of MDCO. CIBC Asset Management Inc purchased a new position in The Medicines in the 2nd quarter worth about $210,000. NumerixS Investment Technologies Inc purchased a new position in The Medicines in the 2nd quarter worth about $229,000. Xact Kapitalforvaltning AB raised its position in The Medicines by 28.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock worth $338,000 after buying an additional 2,300 shares during the last quarter. Teza Capital Management LLC bought a new stake in shares of The Medicines during the 1st quarter valued at about $342,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of The Medicines by 29.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,545 shares of the company’s stock valued at $348,000 after purchasing an additional 2,398 shares during the period.
About The Medicines
The Medicines Company, a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States.
Further Reading: Dividend Stocks – Are They Right For You?
Receive News & Ratings for The Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines and related companies with MarketBeat.com's FREE daily email newsletter.