BidaskClub downgraded shares of The Medicines (NASDAQ:MDCO) from a buy rating to a hold rating in a research report report published on Tuesday.
A number of other analysts have also weighed in on MDCO. ValuEngine raised shares of The Medicines from a sell rating to a hold rating in a report on Thursday, March 1st. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the stock a buy rating in a report on Monday, March 12th. Zacks Investment Research lowered shares of The Medicines from a hold rating to a sell rating in a report on Tuesday, April 17th. Finally, B. Riley assumed coverage on shares of The Medicines in a research note on Thursday, June 7th. They issued a buy rating and a $55.00 price target for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The Medicines currently has a consensus rating of Buy and an average price target of $50.56.
The Medicines opened at $36.70 on Tuesday, MarketBeat Ratings reports. The company has a quick ratio of 2.52, a current ratio of 2.56 and a debt-to-equity ratio of 9.70. The Medicines has a 1-year low of $24.45 and a 1-year high of $43.79.
The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, April 25th. The company reported ($0.77) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.03. The business had revenue of $7.71 million for the quarter, compared to analyst estimates of $9.21 million. The Medicines had a negative net margin of 1,109.21% and a negative return on equity of 609.97%. The Medicines’s revenue was down 55.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.05) EPS. sell-side analysts forecast that The Medicines will post -3.51 earnings per share for the current fiscal year.
In other The Medicines news, Director Armin M. Kessler sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $28.71, for a total value of $574,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Melvin K. Spigelman sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $32.20, for a total transaction of $241,500.00. Following the completion of the transaction, the director now directly owns 60,633 shares of the company’s stock, valued at approximately $1,952,382.60. The disclosure for this sale can be found here. 10.29% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its stake in shares of The Medicines by 33.8% in the 4th quarter. SG Americas Securities LLC now owns 7,145 shares of the company’s stock valued at $195,000 after purchasing an additional 1,805 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of The Medicines in the 4th quarter valued at $202,000. Elkfork Partners LLC purchased a new stake in shares of The Medicines in the 4th quarter valued at $214,000. Xact Kapitalforvaltning AB purchased a new stake in shares of The Medicines in the 4th quarter valued at $218,000. Finally, Teza Capital Management LLC purchased a new stake in shares of The Medicines in the 1st quarter valued at $342,000.
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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