Stock Analysis:Medicines Co (NASDAQ:MDCO) Stock Target Raised
In an interesting research report revealed to investors and clients by JP Morgan on Tuesday, 8 December, Medicines Co (NASDAQ:MDCO) had its price target lifted to $50.00. The firm presently has a solid “Overweight” rating on shares.
From a total of 8 analysts covering The Medicines Co (NASDAQ:MDCO) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 70% of the ratings are positive. The highest target price is $53 while the lowest target price is $31. The mean of all analyst targets is $45.25 with a 23.03% above today’s ($39.99) stock price. The Medicines Co was the topic of 9 analyst reports since August 28, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 16 with “Outperform” rating. Leerink Swann maintained MDCO stock in a recent report from August 31 with “Buy” rating. Finally, Jefferies upgraded the stock to “Hold” rating in a report issued on an August 28.
The stock increased 1.81% or $0.71 during the last trading session, striking $39.99. Approximately shares of stock traded hands. The Medicines Company (NASDAQ:MDCO) has risen 52.93% since May 6, 2015 and is uptrending. It has outperformed by 53.72% the S&P500.
The overall sentiment of institutions has decreased to 0.92 in Q2 2015. Its down 0.26, from 1.18 in 2015Q2. The ratio fall, as 27 institutions have sold all the shares of The Medicines Company that they owned while 72 funds have taken shares off the table. 35 funds have purchased shares for the first time while 56 added to their positions. These institutions now hold 77.83 million shares or 7.10% more than the 72.67 million shares they owned in 2015Q2.
The Fund Sarissa Capital Management Lp currently is holding shares equating to 14.69% of its total portfolio in The Medicines Company representing a total of 1.57 million shares. Another fund,Antipodean Advisors Llc, is holding a total of 2.44 million shares equating to 10.54% of their holdings. Additionally, Camber Capital Management Llc has a 2.50 million share stake in The Medicines Company which represents 8.13% of their total portfolio. The Fund, Bridger Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 6.39% of their total portfolio. Finally March Altus Capital Management Lp, a fund which is based in the state of Connecticut reported a total holdings of 22,077 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 18, 2015, shareholders of The Medicines Company have witnessed 0 insider purchases, and a total of 8 selling transactions equating to a net activity of approximately $10.89 million . Sblendorio Glenn sold 25,000 shares worth approximately $1.05M. O’connor William Bernard sold 35,451 shares worth approximately $1.42M. Spigelman Melvin K sold 20,000 shares worth approximately $810,000. Meanwell Clive sold 49,998 shares worth approximately $1.97M. The company insider Shigeta Hiroaki sold 7,500 shares worth $217,425.
The Medicines Company is a global biopharmaceutical company. The company has a market cap of $2.73 billion. The Company’s marketed products are: Angiomax , Cleviprex (clevidipine) injectable emulsion, Minocin (minocycline) for injection, Orbactiv (oritavancin), PreveLeak and Recothrom Thrombin topical (Recombinant). It currently has negative earnings. The Company’s products in development include its registration stage product candidates and its research and development product candidates.
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.” Get a free copy of the Zacks research report on The Medicines Company (MDCO).