The Medicines (NASDAQ:MDCO) Rating Lowered to Hold at BidaskClub

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BidaskClub cut shares of The Medicines (NASDAQ:MDCO) from a buy rating to a hold rating in a report published on Friday morning, BidAskClub reports.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut The Medicines from a hold rating to a sell rating and set a $40.00 target price on the stock. in a research note on Tuesday, July 30th. Bank of America restated a buy rating and set a $51.00 price target on shares of The Medicines in a research report on Monday, August 26th. Jefferies Financial Group lowered The Medicines from a buy rating to a hold rating and lifted their price target for the company from $44.00 to $50.00 in a research report on Thursday, October 10th. Roth Capital set a $72.00 price target on The Medicines and gave the company a buy rating in a research report on Tuesday, September 3rd. Finally, Cowen set a $48.00 price target on The Medicines and gave the company a buy rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $72.46.

Shares of MDCO traded up $11.22 during mid-day trading on Friday, hitting $69.87. 402,683 shares of the company’s stock traded hands, compared to its average volume of 1,564,413. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 21.45. The Medicines has a 1 year low of $16.69 and a 1 year high of $59.00. The firm has a market capitalization of $4.14 billion, a P/E ratio of -24.01 and a beta of 0.90. The business’s 50-day moving average price is $53.50 and its 200-day moving average price is $41.49.

The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). During the same period in the prior year, the firm earned ($0.70) earnings per share. Sell-side analysts anticipate that The Medicines will post -3.4 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in MDCO. Neuburgh Advisers LLC lifted its position in The Medicines by 3.0% during the 2nd quarter. Neuburgh Advisers LLC now owns 10,736 shares of the company’s stock worth $391,000 after acquiring an additional 308 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of The Medicines by 17.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,526 shares of the company’s stock valued at $92,000 after buying an additional 381 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of The Medicines by 2.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,660 shares of the company’s stock valued at $717,000 after purchasing an additional 390 shares in the last quarter. Tyers Asset Management LLC increased its stake in shares of The Medicines by 3.0% in the 2nd quarter. Tyers Asset Management LLC now owns 13,664 shares of the company’s stock valued at $498,000 after purchasing an additional 392 shares in the last quarter. Finally, Flinton Capital Management LLC increased its stake in shares of The Medicines by 3.0% in the 2nd quarter. Flinton Capital Management LLC now owns 16,592 shares of the company’s stock valued at $605,000 after purchasing an additional 476 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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