The Medicines Company (NASDAQ:MDCO)’s share price rose 5.3% during mid-day trading on Wednesday . The company traded as high as $36.97 and last traded at $35.66. Approximately 2,306,491 shares changed hands during mid-day trading, an increase of 92% from the average daily volume of 1,199,500 shares. The stock had previously closed at $33.85.
Several analysts have recently commented on the company. CIBC set a $50.00 target price on The Medicines in a research report on Tuesday, May 23rd. ValuEngine raised The Medicines from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and set a $62.00 price objective on shares of The Medicines in a research report on Wednesday, June 28th. Citigroup Inc. reduced their price objective on The Medicines from $59.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, July 17th. Finally, Zacks Investment Research raised The Medicines from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.00.
The company’s 50 day moving average price is $36.16 and its 200-day moving average price is $42.45. The stock’s market capitalization is $2.56 billion.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($5.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.29) by ($4.23). The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The firm had revenue of $18.74 million during the quarter, compared to the consensus estimate of $29.64 million. During the same period in the previous year, the company posted ($0.62) earnings per share. The company’s revenue for the quarter was down 65.8% on a year-over-year basis. On average, equities analysts expect that The Medicines Company will post ($9.69) earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio lifted its stake in shares of The Medicines by 81.6% during the 1st quarter. Strs Ohio now owns 8,900 shares of the company’s stock valued at $435,000 after buying an additional 4,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in The Medicines by 134.0% during the 1st quarter. Russell Investments Group Ltd. now owns 23,115 shares of the company’s stock worth $1,130,000 after acquiring an additional 13,237 shares during the period. American Century Companies Inc. increased its holdings in The Medicines by 4.7% during the 1st quarter. American Century Companies Inc. now owns 68,597 shares of the company’s stock worth $3,354,000 after acquiring an additional 3,063 shares during the period. US Bancorp DE increased its holdings in The Medicines by 1.7% during the 1st quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after acquiring an additional 58 shares during the period. Finally, Comerica Bank increased its holdings in The Medicines by 6.3% during the 1st quarter. Comerica Bank now owns 79,694 shares of the company’s stock worth $3,872,000 after acquiring an additional 4,738 shares during the period.
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About The Medicines
The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).
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