Boxer Capital adds The Medicines Company (MDCO) to its portfolio

The Medicines Company (MDCO) : Boxer Capital added new position in The Medicines Company during the most recent quarter end. The investment management firm now holds 700,000 shares of The Medicines Company which is valued at $25,522,000 , the company said in a statement filed on Nov 14, 2016 with the SEC.The Medicines Company makes up approximately 11.80% of Boxer Capital’s portfolio.

Other Hedge Funds, Including , Profund Advisors boosted its stake in MDCO in the latest quarter, The investment management firm added 1,306 additional shares and now holds a total of 15,475 shares of The Medicines Company which is valued at $541,625. The Medicines Company makes up approx 0.03% of Profund Advisors’s portfolio.Comerica Bank boosted its stake in MDCO in the latest quarter, The investment management firm added 498 additional shares and now holds a total of 71,603 shares of The Medicines Company which is valued at $2,506,105. The Medicines Company makes up approx 0.02% of Comerica Bank’s portfolio.Td Asset Management Inc boosted its stake in MDCO in the latest quarter, The investment management firm added 3,800 additional shares and now holds a total of 17,400 shares of The Medicines Company which is valued at $574,722.California Public Employees Retirement System reduced its stake in MDCO by selling 15,200 shares or 7.97% in the most recent quarter. The Hedge Fund company now holds 175,600 shares of MDCO which is valued at $6,493,688. The Medicines Company makes up approx 0.01% of California Public Employees Retirement System’s portfolio.

The Medicines Company closed down -0.02 points or -0.05% at $36.63 with 7,93,205 shares getting traded on Monday. Post opening the session at $36.66, the shares hit an intraday low of $36.16 and an intraday high of $36.88 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, The Medicines Company reported $-0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.41 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $-1.05. The company had revenue of $37.60 million for the quarter, compared to analysts expectations of $36.66 million. The company’s revenue was down -34.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.82 EPS.

Many Wall Street Analysts have commented on The Medicines Company. Company shares were Reiterated by RBC Capital Mkts on Nov 16, 2016 to “Outperform”, Firm has raised the Price Target to $ 52 from a previous price target of $45 .

The Medicines Company is a global biopharmaceutical company. The Company’s marketed products are: Angiomax (bivalirudin) Cleviprex (clevidipine) injectable emulsion Minocin (minocycline) for injection Orbactiv (oritavancin) PreveLeak and Recothrom Thrombin topical (Recombinant). The Company’s products in development include its registration stage product candidates and its research and development product candidates. It has a pipeline of acute and intensive care hospital products in development including four registration stage product candidates for which the Company has submitted applications for regulatory approval in the United States cangrelor IONSYS (fentanyl iontophoretic transdermal system) Raplixa formerly referred to as Fibrocaps and RPX-602. The Company’s four research and development product candidates include ABP-700 ALN-PCSsc Carbavance and MDCO-216. The Company also develops ABP-700 an intravenous anesthetic which is in Phase I of clinical studies.

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