The Medicines Company (NASDAQ:MDCO) has been given an average recommendation of “Buy” by the thirteen research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.78.
Several analysts recently weighed in on MDCO shares. CIBC set a $50.00 price target on shares of The Medicines in a report on Tuesday, May 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $62.00 price target on shares of The Medicines in a report on Wednesday, June 28th. Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday. Oppenheimer Holdings, Inc. started coverage on shares of The Medicines in a report on Monday, May 22nd. They issued a “market perform” rating and a $50.00 price target on the stock. Finally, Citigroup Inc. lifted 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.
Shares of The Medicines (NASDAQ:MDCO) traded down 0.95% on Friday, reaching $36.30. 483,680 shares of the company traded hands. The Medicines has a one year low of $30.80 and a one year high of $55.95. The stock’s 50 day moving average price is $38.29 and its 200-day moving average price is $44.64. The stock’s market capitalization is $2.58 billion.
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Several hedge funds have recently made changes to their positions in the stock. Aviva Holdings Ltd. acquired a new stake in shares of The Medicines during the first quarter worth approximately $187,477,000. Iridian Asset Management LLC CT boosted its stake in shares of The Medicines by 218.7% in the first quarter. Iridian Asset Management LLC CT now owns 3,022,681 shares of the company’s stock worth $147,809,000 after buying an additional 2,074,261 shares during the period. Blue Ridge Capital L.L.C. acquired a new stake in shares of The Medicines during the first quarter worth approximately $53,790,000. Norges Bank acquired a new stake in shares of The Medicines during the fourth quarter worth approximately $22,599,000. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of The Medicines by 139.9% in the first quarter. Frontier Capital Management Co. LLC now owns 604,020 shares of the company’s stock worth $29,537,000 after buying an additional 352,230 shares during the period.
About The Medicines
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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