The Medicines (NASDAQ:MDCO) Receives “Buy” Rating from Cowen

Cowen reaffirmed their buy rating on shares of The Medicines (NASDAQ:MDCO) in a report issued on Monday morning, AnalystRatings.com reports. The brokerage currently has a $60.00 price target on the stock.

A number of other research firms also recently commented on MDCO. Jefferies Financial Group downgraded shares of The Medicines from a buy rating to a hold rating and boosted their target price for the stock from $44.00 to $50.00 in a report on Thursday, October 10th. Chardan Capital set a $90.00 target price on shares of The Medicines and gave the stock a buy rating in a report on Monday, August 26th. Leerink Swann reiterated a buy rating on shares of The Medicines in a report on Tuesday, September 3rd. ValuEngine downgraded shares of The Medicines from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Medicines from $39.00 to $49.00 and gave the stock an overweight rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $72.46.

Shares of NASDAQ:MDCO traded up $11.56 during trading on Monday, reaching $70.21. The company had a trading volume of 14,547,900 shares, compared to its average volume of 1,612,688. The firm’s fifty day moving average is $53.50 and its 200 day moving average is $41.49. The firm has a market capitalization of $4.14 billion, a PE ratio of -24.13 and a beta of 0.90. The Medicines has a twelve month low of $16.69 and a twelve month high of $73.85. 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 issued its quarterly 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 in the prior year, the business earned ($0.70) EPS. Equities analysts predict that The Medicines will post -3.4 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Mason Street Advisors LLC raised its holdings in shares of The Medicines by 7.6% during the third quarter. Mason Street Advisors LLC now owns 25,058 shares of the company’s stock valued at $1,253,000 after acquiring an additional 1,774 shares during the period. Grimes & Company Inc. acquired a new stake in shares of The Medicines during the third quarter valued at approximately $250,000. Tower Research Capital LLC TRC raised its holdings in shares of The Medicines by 1,156.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,186 shares of the company’s stock valued at $109,000 after acquiring an additional 2,012 shares during the period. Fayerweather Charles acquired a new stake in shares of The Medicines during the third quarter valued at approximately $237,000. Finally, SG Americas Securities LLC raised its holdings in shares of The Medicines by 179.2% during the third quarter. SG Americas Securities LLC now owns 10,178 shares of the company’s stock valued at $509,000 after acquiring an additional 6,532 shares during the period.

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.

Further Reading: How Buying a Call Option Works

Analyst Recommendations 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.