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.
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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