Oppenheimer Analysts Give The Medicines (MDCO) a $50.00 Price Target

Oppenheimer set a $50.00 target price on The Medicines (NASDAQ:MDCO) in a report released on Friday morning. The firm currently has a buy rating on the stock.

Several other research firms have also issued reports on MDCO. BidaskClub upgraded The Medicines from a hold rating to a buy rating in a research note on Thursday, August 16th. Citigroup increased their price objective on The Medicines from $40.00 to $50.00 and gave the stock a buy rating in a research note on Monday, August 20th. Zacks Investment Research upgraded The Medicines from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Tuesday, August 7th. Finally, ValuEngine lowered The Medicines from a buy rating to a hold rating in a research note on Monday, September 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $53.71.

The Medicines stock traded down $0.20 during mid-day trading on Friday, hitting $23.79. 970,469 shares of the company were exchanged, compared to its average volume of 910,131. The company has a debt-to-equity ratio of 31.23, a current ratio of 2.60 and a quick ratio of 2.55. The Medicines has a 1-year low of $23.22 and a 1-year high of $41.57. The firm has a market capitalization of $1.89 billion, a P/E ratio of -2.83 and a beta of 1.06.

The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.13). The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The company had revenue of ($3.30) million for the quarter, compared to analyst estimates of $1.88 million. During the same quarter in the prior year, the company earned ($1.19) earnings per share. The business’s revenue was down 141.8% compared to the same quarter last year. On average, equities research analysts predict that The Medicines will post -2.52 EPS for the current fiscal year.

In other news, CEO Clive Meanwell sold 50,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $39.31, for a total transaction of $1,965,500.00. Following the sale, the chief executive officer now owns 352,409 shares in the company, valued at $13,853,197.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.29% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc bought a new stake in shares of The Medicines during the second quarter worth $210,000. NumerixS Investment Technologies Inc bought a new stake in shares of The Medicines during the second quarter worth $229,000. Xact Kapitalforvaltning AB grew its holdings in shares of The Medicines by 28.9% during the first quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock worth $338,000 after purchasing an additional 2,300 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of The Medicines during the second quarter worth $443,000. Finally, Eqis Capital Management Inc. bought a new stake in shares of The Medicines during the second quarter worth $449,000.

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.

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Analyst Recommendations for The Medicines (NASDAQ:MDCO)

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