The stock of The Medicines Company (NASDAQ:MDCO) is a huge mover today! About 1.10 million shares traded hands. The Medicines Company (NASDAQ:MDCO) has risen 17.06% since March 15, 2016 and is uptrending. It has outperformed by 11.58% the S&P500.
The move comes after 5 months positive chart setup for the $2.77B company. It was reported on Oct, 18 by Barchart.com. We have $58.94 PT which if reached, will make NASDAQ:MDCO worth $1.47 billion more.
Analysts await The Medicines Company (NASDAQ:MDCO) to report earnings on November, 1. They expect $-1.48 earnings per share, down 64.44% or $0.58 from last year’s $-0.9 per share. After $-0.84 actual earnings per share reported by The Medicines Company for the previous quarter, Wall Street now forecasts 76.19% negative EPS growth.
The Medicines Company (NASDAQ:MDCO) Ratings Coverage
Out of 4 analysts covering The Medicines Co (NASDAQ:MDCO), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. The Medicines Co has been the topic of 11 analyst reports since August 28, 2015 according to StockzIntelligence Inc. Chardan Capital Markets initiated The Medicines Company (NASDAQ:MDCO) rating on Wednesday, November 4. Chardan Capital Markets has “Buy” rating and $50 price target. As per Monday, August 31, the company rating was maintained by Oppenheimer. The firm has “Hold” rating given on Friday, August 28 by Jefferies. The firm earned “Buy” rating on Monday, March 21 by Chardan Capital Markets. The rating was maintained by Leerink Swann on Monday, August 31 with “Buy”. The stock of The Medicines Company (NASDAQ:MDCO) earned “Outperform” rating by RBC Capital Markets on Monday, August 31. RBC Capital Markets maintained The Medicines Company (NASDAQ:MDCO) rating on Monday, November 16. RBC Capital Markets has “Outperform” rating and $48 price target. The rating was maintained by JP Morgan on Saturday, August 29 with “Buy”.
According to Zacks Investment Research, “Medicines Company acquires, develops and commercializes biopharmaceutical products in late stages of development. U.S. Food and Drug Administration intends to approve its first product, Angiomax, for use in the treatment of patients with unstable angina undergoing coronary balloon angioplasty. The company is also developing Angiomax for additional potential applications for use in the treatment of ischemic heart disease, a condition which occurs when organs receive an inadequate supply of oxygen as a result of decreased blood flow.”
Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.14, from 1.13 in 2016Q1. The ratio is positive, as 20 funds sold all The Medicines Company shares owned while 54 reduced positions. 25 funds bought stakes while 69 increased positions. They now own 81.19 million shares or 0.45% less from 81.56 million shares in 2016Q1.
Moreover, Partner Fund Ltd Partnership has 2.66% invested in The Medicines Company (NASDAQ:MDCO) for 2.62 million shares. Whittier Tru Company holds 0.04% of its portfolio in The Medicines Company (NASDAQ:MDCO) for 23,718 shares. Corvex Mngmt L P has 3.09 million shares for 1.4% of their US portfolio. Cubist Systematic Strategies Lc holds 0% of its portfolio in The Medicines Company (NASDAQ:MDCO) for 955 shares. State Of Tennessee Treasury Department reported 55,365 shares or 0.01% of all its holdings. Falcon Edge Cap L P accumulated 1.58% or 640,000 shares. First Eagle Inv Management Limited accumulated 555,099 shares or 0.05% of the stock. Manufacturers Life Insur The has 45,719 shares for 0% of their US portfolio. Spot Trading Llc holds 0% of its portfolio in The Medicines Company (NASDAQ:MDCO) for 2,191 shares. State Street Corp has 0.01% invested in the company for 1.77M shares. Fred Alger holds 0.03% or 152,673 shares in its portfolio. Public Employees Retirement Association Of Colorado has 15,848 shares for 0% of their US portfolio. Nuveen Asset Mngmt Limited Co accumulated 332,870 shares or 0.07% of the stock. Highvista Strategies accumulated 203,200 shares or 1.31% of the stock. Deutsche Natl Bank Ag holds 0.01% of its portfolio in The Medicines Company (NASDAQ:MDCO) for 605,419 shares.
Insider Transactions: Since May 11, 2016, the stock had 3 insider buys, and 8 insider sales for $10.34 million net activity. $55,080 worth of The Medicines Company (NASDAQ:MDCO) was sold by MEANWELL CLIVE. $510,998 worth of The Medicines Company (NASDAQ:MDCO) was sold by WYATT ELIZABETH H S on Wednesday, May 11. $1.74 million worth of The Medicines Company (NASDAQ:MDCO) was bought by Cox Christopher T on Wednesday, June 8. Savage Robert G. sold $369,500 worth of stock. $555,000 worth of The Medicines Company (NASDAQ:MDCO) was sold by Spigelman Melvin K on Tuesday, May 24. ESHELMAN FREDRIC N also bought $10.10 million worth of The Medicines Company (NASDAQ:MDCO) on Thursday, May 12. $527,295 worth of The Medicines Company (NASDAQ:MDCO) was sold by CROUSE WILLIAM on Monday, May 16.
More notable recent The Medicines Company (NASDAQ:MDCO) news were published by: Businesswire.com which released: “The Medicines Company Announces Positive Top-Line Results from Day 90 Interim …” on October 18, 2016, also Businesswire.com with their article: “The Medicines Company’s Infectious Disease Portfolio Featured in 16 …” published on October 17, 2016, Fool.com published: “Why The Medicines Company’s Share Price Got Sick Today” on October 06, 2016. More interesting news about The Medicines Company (NASDAQ:MDCO) were released by: Businesswire.com and their article: “The Medicines Company to Present Data from its Investigational Anesthetic MDCO …” published on October 13, 2016 as well as Reuters.com‘s news article titled: “BRIEF-The Medicines Company says provides update on PCSK9si study” with publication date: October 05, 2016.
MDCO Company Profile
The Medicines Company, incorporated on July 31, 1996, is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin). The Company’s pipeline of acute and intensive care hospital products in development include ABP-700, ALN-PCSsc, Carbavance and MDCO-216. The Firm sells a ready to use formulation of Argatroban and has a portfolio of over 10 generic drugs, which is referred as acute care generic products. The Firm sells over three of its acute care generic products, including midazolam, ondansetron and rocuronium.
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