The Medicines (MDCO) Sees Unusually-High Trading Volume

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The Medicines Company (NASDAQ:MDCO) shares saw an uptick in trading volume on Monday . 3,528,368 shares changed hands during trading, an increase of 225% from the previous session’s volume of 1,087,279 shares.The stock last traded at $34.23 and had previously closed at $32.99.

A number of brokerages recently commented on MDCO. Robert W. Baird began coverage on shares of The Medicines in a research note on Wednesday, March 27th. They set an “outperform” rating and a $80.00 target price for the company. BidaskClub upgraded shares of The Medicines from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Roth Capital assumed coverage on shares of The Medicines in a research note on Thursday, March 21st. They set a “buy” rating and a $75.00 target price for the company. Chardan Capital restated a “buy” rating and issued a $90.00 price objective (up previously from $85.00) on shares of The Medicines in a research note on Friday, April 26th. Finally, B. Riley set a $38.00 price objective on shares of The Medicines and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $62.00.

The firm has a market cap of $2.53 billion, a P/E ratio of -11.43 and a beta of 1.36.

The Medicines (NASDAQ:MDCO) last announced its earnings results on Thursday, April 25th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.09). During the same quarter last year, the firm earned ($0.76) EPS. The Medicines’s revenue was down 100.0% compared to the same quarter last year. Analysts anticipate that The Medicines Company will post -2.74 EPS for the current fiscal year.

In other news, Director Alexander J. Denner purchased 248,100 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $24.91 per share, with a total value of $6,180,171.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander J. Denner purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $25.15 per share, with a total value of $2,515,000.00. The disclosure for this purchase can be found here. Insiders bought 673,100 shares of company stock valued at $16,966,421 over the last ninety days. Corporate insiders own 10.29% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can grew its position in The Medicines by 31.9% during the fourth quarter. Bank of Montreal Can now owns 3,139 shares of the company’s stock worth $59,000 after buying an additional 760 shares during the period. First Mercantile Trust Co. grew its position in The Medicines by 21.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,965 shares of the company’s stock worth $76,000 after buying an additional 705 shares during the period. Advisory Services Network LLC grew its position in The Medicines by 196.7% during the fourth quarter. Advisory Services Network LLC now owns 4,450 shares of the company’s stock worth $85,000 after buying an additional 2,950 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in The Medicines by 61.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,990 shares of the company’s stock worth $125,000 after buying an additional 2,651 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in The Medicines by 23.2% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,010 shares of the company’s stock worth $134,000 after buying an additional 1,320 shares during the period.

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The Medicines Company Profile (NASDAQ:MDCO)

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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