The Medicines Co. (NASDAQ:MDCO) has been given an average recommendation of “Buy” by the twelve analysts that are currently covering the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $48.40.
MDCO has been the topic of a number of recent analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of The Medicines in a report on Friday, October 7th. Guggenheim reiterated a “buy” rating and set a $55.00 target price on shares of The Medicines in a research report on Monday, August 15th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of The Medicines in a research report on Thursday, October 6th. RBC Capital Markets reiterated an “outperform” rating and set a $45.00 target price (down from $48.00) on shares of The Medicines in a research report on Tuesday, November 8th. Finally, Royal Bank Of Canada boosted their target price on The Medicines from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 16th.
Shares of The Medicines (NASDAQ:MDCO) opened at 37.23 on Wednesday. The company’s 50 day moving average price is $35.53 and its 200-day moving average price is $36.65. The Medicines has a 12 month low of $27.50 and a 12 month high of $43.00. The firm’s market capitalization is $2.61 billion.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, October 26th. The company reported ($0.64) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.30) by $0.66. The Medicines had a negative return on equity of 35.07% and a negative net margin of 96.44%. The firm had revenue of $37.60 million for the quarter, compared to analyst estimates of $37.26 million. During the same quarter in the prior year, the company posted ($0.82) earnings per share. The Medicines’s quarterly revenue was down 34.3% on a year-over-year basis. On average, equities analysts predict that The Medicines will post ($1.41) earnings per share for the current fiscal year.
In related news, CEO Clive Meanwell sold 8,623 shares of the stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $40.00, for a total transaction of $344,920.00. Following the transaction, the chief executive officer now directly owns 347,791 shares in the company, valued at $13,911,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC acquired a new position in The Medicines during the second quarter valued at $18,668,000. Victory Capital Management Inc. acquired a new position in The Medicines during the third quarter valued at $12,622,000. Vanguard Group Inc. increased its position in The Medicines by 3.9% in the second quarter. Vanguard Group Inc. now owns 5,423,391 shares of the company’s stock valued at $182,388,000 after buying an additional 202,392 shares during the period. Bank of Montreal Can acquired a new position in The Medicines during the second quarter valued at $6,288,000. Finally, RTW Investments LLC acquired a new position in The Medicines during the third quarter valued at $4,642,000.