The Medicines (NASDAQ:MDCO) Hits New 12-Month High at $84.48

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Shares of The Medicines Company (NASDAQ:MDCO) hit a new 52-week high during trading on Tuesday . The stock traded as high as $84.48 and last traded at $84.45, with a volume of 1761708 shares. The stock had previously closed at $84.15.

Several research firms have issued reports on MDCO. Roth Capital set a $72.00 price objective on The Medicines and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Cowen reissued a “buy” rating and issued a $60.00 target price on shares of The Medicines in a research report on Monday, November 25th. Piper Jaffray Companies reaffirmed a “positive” rating and set a $145.00 price target (up previously from $142.00) on shares of The Medicines in a research report on Monday, September 2nd. Chardan Capital lowered The Medicines from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 26th. Finally, Svb Leerink lowered The Medicines from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $78.00 to $85.00 in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The Medicines currently has an average rating of “Hold” and a consensus price target of $72.57.

The stock has a market cap of $6.71 billion, a price-to-earnings ratio of -28.92 and a beta of 1.09. The company has a 50-day simple moving average of $65.17 and a two-hundred day simple moving average of $46.48. The company has a debt-to-equity ratio of 21.45, a quick ratio of 0.77 and a current ratio of 0.77.

The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, October 30th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). During the same period last year, the business earned ($0.70) earnings per share. As a group, sell-side analysts predict that The Medicines Company will post -3.42 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System boosted its position in shares of The Medicines by 6.7% in the 2nd quarter. Arizona State Retirement System now owns 108,212 shares of the company’s stock worth $3,946,000 after purchasing an additional 6,803 shares in the last quarter. Strs Ohio purchased a new stake in The Medicines in the 2nd quarter worth $120,000. First Trust Advisors LP purchased a new stake in The Medicines in the 2nd quarter worth $336,000. Aperio Group LLC increased its stake in The Medicines by 11.7% in the 2nd quarter. Aperio Group LLC now owns 45,665 shares of the company’s stock worth $1,666,000 after buying an additional 4,796 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of The Medicines by 2.0% during 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 during the last quarter.

The Medicines Company Profile (NASDAQ:MDCO)

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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