The Medicines Company (MDCO) Stock Rating Lowered by Zacks Investment Research

The Medicines Company (NASDAQ:MDCO) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “The Medicines Co. recently received FDA approval of Vabomere which is a huge positive for the company given the lucrative market it targets. The company also has a blockbuster candidate, Inclisiran, in its portfolio. However, we await a clearer picture of the commercial potential of Vabomere and  Inclisiran, if approved. The company’s shares have underperformed the industry so far this year. The company is facing generic competition for its flagship product, Angiomax. With Angiomax sales eroding due to presence of generics, the company’s ability to successfully develop and bring new products to the market is important for growth. Any regulatory setbacks would weigh heavily on the stock. Meanwhile, loss estimates have widened ahead of the company's Q3 earnings results. The company has a negative record of earnings surprises in recent quarters.”

Several other research analysts have also commented on the stock. Chardan Capital restated a “buy” rating and issued a $85.00 price target (up previously from $80.00) on shares of The Medicines in a report on Tuesday, August 29th. Citigroup Inc. raised their price target on shares of The Medicines from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Jefferies Group LLC restated a “buy” rating and issued a $62.00 price target on shares of The Medicines in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. set a $50.00 price target on shares of The Medicines and gave the company a “hold” rating in a report on Wednesday, October 4th. Finally, TheStreet lowered shares of The Medicines from a “c-” rating to a “d” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $54.00.

Shares of The Medicines (NASDAQ MDCO) traded down 2.17% on Tuesday, hitting $36.89. 249,228 shares of the company were exchanged. The company has a 50-day moving average price of $36.28 and a 200 day moving average price of $40.99. The Medicines has a 52-week low of $30.80 and a 52-week high of $55.95. The firm’s market cap is $2.65 billion.

The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($5.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.29) by ($4.23). The Medicines had a negative net margin of 670.46% and a negative return on equity of 137.20%. The business had revenue of $18.74 million during the quarter, compared to analysts’ expectations of $29.64 million. During the same quarter in the previous year, the business posted ($0.62) EPS. The company’s quarterly revenue was down 65.8% on a year-over-year basis. Analysts predict that The Medicines will post ($9.69) EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the business. FMR LLC grew its position in The Medicines by 1.1% in the second quarter. FMR LLC now owns 10,825,038 shares of the company’s stock valued at $411,460,000 after acquiring an additional 117,982 shares in the last quarter. Vanguard Group Inc. grew its position in The Medicines by 5.4% in the first quarter. Vanguard Group Inc. now owns 6,090,730 shares of the company’s stock valued at $297,837,000 after acquiring an additional 313,876 shares in the last quarter. Aviva Holdings Ltd. acquired a new stake in The Medicines in the first quarter valued at approximately $187,477,000. Iridian Asset Management LLC CT grew its position in The Medicines by 21.7% in the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock valued at $139,791,000 after acquiring an additional 655,065 shares in the last quarter. Finally, State Street Corp grew its position in The Medicines by 9.0% in the second quarter. State Street Corp now owns 2,220,199 shares of the company’s stock valued at $84,391,000 after acquiring an additional 183,086 shares in the last quarter.

The Medicines Company Profile

The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).

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