The Medicines (MDCO) Given “Overweight” Rating at Robert W. Baird

Robert W. Baird reaffirmed their overweight rating on shares of The Medicines (NASDAQ:MDCO) in a research report sent to investors on Monday, The Fly reports. Robert W. Baird currently has a $110.00 price target on the stock, up from their prior price target of $80.00.

Several other equities analysts have also recently weighed in on MDCO. BidaskClub upgraded The Medicines from a sell rating to a hold rating in a research note on Saturday, February 2nd. Roth Capital initiated coverage on The Medicines in a research note on Thursday, March 21st. They set a buy rating and a $75.00 price objective on the stock. Goldman Sachs Group upgraded The Medicines from a neutral rating to a buy rating and raised their price objective for the company from $25.00 to $55.00 in a research note on Friday, April 26th. Chardan Capital restated a buy rating and set a $90.00 price objective (up from $85.00) on shares of The Medicines in a research note on Friday, April 26th. Finally, ValuEngine upgraded The Medicines from a hold rating to a buy rating in a research note on Friday, April 26th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $62.00.

Shares of MDCO opened at $34.23 on Monday. The Medicines has a 12-month low of $16.69 and a 12-month high of $41.57. The firm has a market capitalization of $2.44 billion, a P/E ratio of -11.76 and a beta of 1.36.

The Medicines (NASDAQ:MDCO) last issued its earnings results on Thursday, April 25th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.09). During the same period in the prior year, the company posted ($0.76) earnings per share. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. On average, analysts predict that The Medicines will post -2.74 earnings per share for the current year.

In other The Medicines news, Director Alexander J. Denner bought 248,100 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average cost of $24.91 per share, with a total value of $6,180,171.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander J. Denner bought 100,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $25.15 per share, with a total value of $2,515,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 673,100 shares of company stock valued at $16,966,421. Insiders own 10.29% of the company’s stock.

Several institutional investors have recently made changes to their positions in MDCO. Bank of Montreal Can increased its holdings in The Medicines by 13.3% in the 1st quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after acquiring an additional 417 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in The Medicines by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,460 shares of the company’s stock worth $712,000 after acquiring an additional 460 shares during the last quarter. Piedmont Investment Advisors Inc. increased its holdings in The Medicines by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 15,698 shares of the company’s stock worth $300,000 after acquiring an additional 517 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in The Medicines by 3.2% in the 4th quarter. State of Alaska Department of Revenue now owns 22,020 shares of the company’s stock worth $421,000 after acquiring an additional 681 shares during the last quarter. Finally, Mason Street Advisors LLC increased its holdings in The Medicines by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 21,112 shares of the company’s stock worth $590,000 after acquiring an additional 697 shares during 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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