The Medicines (NASDAQ:MDCO) had its price target boosted by B. Riley from $74.00 to $95.00 in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for The Medicines’ Q3 2019 earnings at ($0.89) EPS, Q4 2019 earnings at ($0.94) EPS, FY2019 earnings at ($3.44) EPS and FY2020 earnings at ($3.17) EPS.
Other analysts have also recently issued research reports about the stock. Citigroup cut shares of The Medicines from a buy rating to a neutral rating and set a $55.00 price target on the stock. in a research report on Tuesday, September 17th. Leerink Swann reissued a buy rating on shares of The Medicines in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price target on shares of The Medicines from $39.00 to $49.00 and gave the stock an overweight rating in a research report on Tuesday, September 3rd. Zacks Investment Research cut shares of The Medicines from a hold rating to a sell rating and set a $40.00 price target on the stock. in a research report on Tuesday, July 30th. Finally, Cowen set a $48.00 price target on shares of The Medicines and gave the stock a buy rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The Medicines currently has a consensus rating of Buy and a consensus target price of $72.50.
NASDAQ MDCO traded up $1.12 during trading hours on Wednesday, reaching $51.15. The company had a trading volume of 1,074,444 shares, compared to its average volume of 1,547,286. The stock has a market capitalization of $4.06 billion, a P/E ratio of -17.58 and a beta of 0.91. The Medicines has a 1-year low of $16.69 and a 1-year high of $51.93. The company has a current ratio of 5.97, a quick ratio of 5.97 and a debt-to-equity ratio of 21.45. The stock has a 50-day moving average of $44.04 and a 200 day moving average of $35.86.
In related news, EVP Stephen M. Rodin sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $34.82, for a total transaction of $174,100.00. Following the sale, the executive vice president now directly owns 33,139 shares in the company, valued at $1,153,899.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.41% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MDCO. Bank of Montreal Can increased its stake in shares of The Medicines by 13.3% during the first quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after buying an additional 417 shares during the period. New York State Common Retirement Fund increased its stake in The Medicines by 18.4% in the first quarter. New York State Common Retirement Fund now owns 301,260 shares of the company’s stock valued at $8,420,000 after purchasing an additional 46,768 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in The Medicines by 3.1% in the first quarter. Great West Life Assurance Co. Can now owns 91,854 shares of the company’s stock valued at $2,566,000 after purchasing an additional 2,763 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in The Medicines by 48.4% in the first quarter. Pictet Asset Management Ltd. now owns 96,600 shares of the company’s stock valued at $2,700,000 after purchasing an additional 31,500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in The Medicines by 3.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 37,800 shares of the company’s stock valued at $1,526,000 after purchasing an additional 1,100 shares during 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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