The Medicines (MDCO) PT Set at $38.00 by B. Riley

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B. Riley set a $38.00 price objective on The Medicines (NASDAQ:MDCO) in a research note released on Monday, TipRanks reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on MDCO. BidaskClub upgraded shares of The Medicines from a sell rating to a hold rating in a research report on Saturday, February 2nd. Roth Capital initiated coverage on shares of The Medicines in a research report on Thursday, March 21st. They set a buy rating and a $75.00 target price on the stock. Robert W. Baird initiated coverage on shares of The Medicines in a research report on Wednesday, March 27th. They set an outperform rating and a $80.00 target price on the stock. Goldman Sachs Group upgraded shares of The Medicines from a neutral rating to a buy rating and upped their target price for the company from $25.00 to $55.00 in a research report on Friday, April 26th. Finally, Chardan Capital restated a buy rating and set a $90.00 target price (up from $85.00) on shares of The Medicines in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The Medicines presently has a consensus rating of Buy and a consensus target price of $62.00.

The Medicines stock opened at $34.20 on Monday. The Medicines has a 1 year low of $16.69 and a 1 year high of $41.57. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -11.75 and a beta of 1.36.

The Medicines (NASDAQ:MDCO) last released 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 quarter in the prior year, the business posted ($0.76) EPS. The Medicines’s revenue was down 100.0% on a year-over-year basis. Equities research analysts anticipate that The Medicines will post -2.74 earnings per share for the current year.

In related news, Director Alexander J. Denner purchased 325,000 shares of the stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $25.45 per share, with a total value of $8,271,250.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alexander J. Denner purchased 160,000 shares of the stock in a transaction dated Monday, May 20th. The stock was bought at an average cost of $34.50 per share, with a total value of $5,520,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,264,100 shares of company stock valued at $37,093,011. 10.29% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in The Medicines by 13.3% during the 1st quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after purchasing an additional 417 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in The Medicines by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,460 shares of the company’s stock worth $712,000 after purchasing an additional 460 shares in the last quarter. Piedmont Investment Advisors Inc. increased its stake in The Medicines by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 15,698 shares of the company’s stock worth $300,000 after purchasing an additional 517 shares in the last quarter. State of Alaska Department of Revenue increased its stake in The Medicines by 3.2% during the 4th quarter. State of Alaska Department of Revenue now owns 22,020 shares of the company’s stock worth $421,000 after purchasing an additional 681 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in The Medicines by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 21,112 shares of the company’s stock worth $590,000 after purchasing an additional 697 shares in the last quarter.

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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