The Medicines Company (NASDAQ:MDCO) Director Alexander J. Denner Acquires 50,000 Shares

The Medicines Company (NASDAQ:MDCO) Director Alexander J. Denner bought 50,000 shares of The Medicines stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $33.00 per share, with a total value of $1,650,000.00. Following the acquisition, the director now owns 14,092 shares of the company’s stock, valued at $465,036. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

MDCO traded down $0.94 on Friday, reaching $36.06. The stock had a trading volume of 903,185 shares, compared to its average volume of 1,904,314. The Medicines Company has a 12-month low of $16.69 and a 12-month high of $41.33. The company has a 50-day moving average price of $36.39. The company has a market cap of $2.67 billion, a P/E ratio of -12.39 and a beta of 1.08.

The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.09). During the same quarter in the prior year, the firm earned ($0.76) EPS. The company’s revenue was down 100.0% compared to the same quarter last year. On average, equities analysts forecast that The Medicines Company will post -2.74 EPS for the current fiscal year.

MDCO has been the subject of several recent research reports. Bank of America reissued a “buy” rating and set a $43.00 target price (up previously from $36.00) on shares of The Medicines in a report on Tuesday, July 9th. ValuEngine cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Chardan Capital reissued a “buy” rating and set a $90.00 target price (up previously from $85.00) on shares of The Medicines in a report on Friday, April 26th. Finally, Oppenheimer set a $110.00 target price on shares of Medtronic and gave the stock a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $61.50.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in The Medicines by 11.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,767 shares of the company’s stock valued at $217,000 after buying an additional 777 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in The Medicines in the first quarter valued at $4,251,000. FNY Investment Advisers LLC purchased a new position in The Medicines in the first quarter valued at $335,000. Piedmont Investment Advisors Inc. increased its stake in shares of The Medicines by 5.5% during the first quarter. Piedmont Investment Advisors Inc. now owns 16,562 shares of the company’s stock worth $463,000 after purchasing an additional 864 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of The Medicines by 13.3% during the first quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after purchasing an additional 417 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.

Featured Article: How Buying a Call Option Works

Insider Buying and Selling by Quarter for The Medicines (NASDAQ:MDCO)

Receive News & Ratings for The Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines and related companies with MarketBeat.com's FREE daily email newsletter.