The Medicines (NASDAQ:MDCO) Earns Overweight Rating from Robert W. Baird

The Medicines (NASDAQ:MDCO)‘s stock had its “overweight” rating reiterated by stock analysts at Robert W. Baird in a report issued on Monday, May 20th, The Fly reports. They presently have a $110.00 price target on the stock, up from their prior price target of $80.00. Robert W. Baird’s price target indicates a potential upside of 211.79% from the company’s current price.

MDCO has been the subject of a number of other reports. ValuEngine raised shares of The Medicines from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Chardan Capital reaffirmed a “buy” rating and issued a $90.00 price objective (up from $85.00) on shares of The Medicines in a research report on Friday, April 26th. Goldman Sachs Group raised shares of The Medicines from a “neutral” rating to a “buy” rating and increased their target price for the company from $25.00 to $55.00 in a research report on Friday, April 26th. Roth Capital began 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 for the company. Finally, BidaskClub raised shares of The Medicines from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $63.78.

MDCO stock traded down $0.58 during midday trading on Monday, hitting $35.28. The stock had a trading volume of 524,817 shares, compared to its average volume of 1,153,200. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -12.12 and a beta of 1.13. The Medicines has a 1-year low of $16.69 and a 1-year high of $41.57.

The Medicines (NASDAQ:MDCO) last posted its earnings results on Thursday, April 25th. The company reported ($0.80) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.09). During the same period in the prior year, the business posted ($0.76) EPS. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. Equities analysts anticipate that The Medicines will post -2.74 earnings per share for the current year.

In other The Medicines news, Director Alexander J. Denner acquired 160,000 shares of the business’s stock in a transaction that occurred on 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexander J. Denner acquired 431,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average cost of $33.89 per share, with a total value of $14,606,590.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 676,000 shares of company stock valued at $23,087,140. 10.29% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund purchased a new stake in The Medicines in the 4th quarter worth approximately $25,000. Bank of Montreal Can lifted its stake in The Medicines by 31.9% in the 4th quarter. Bank of Montreal Can now owns 3,139 shares of the company’s stock worth $59,000 after purchasing an additional 760 shares in the last quarter. First Mercantile Trust Co. lifted its stake in The Medicines by 21.6% in the 4th quarter. First Mercantile Trust Co. now owns 3,965 shares of the company’s stock worth $76,000 after purchasing an additional 705 shares in the last quarter. Advisory Services Network LLC lifted its stake in The Medicines by 196.7% in the 4th quarter. Advisory Services Network LLC now owns 4,450 shares of the company’s stock worth $85,000 after purchasing an additional 2,950 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in The Medicines by 61.1% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,990 shares of the company’s stock worth $125,000 after purchasing an additional 2,651 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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