Citigroup Maintains The Medicines Company to Neutral with Price Target $44.00

Brokerage firm Citigroup Maintains its rating on The Medicines Company(NASDAQ:MDCO). In a research note issued to the investors, the brokerage major Raises the price-target to $44.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 1, 2016.

In a different note, Cowen & Company said it Initiates Coverage on The Medicines Company, according to a research note issued on May 5, 2016. The shares have been rated ‘Outperform’ by the firm.

The Medicines Company (MDCO) shares turned negative on Mondays trading session with the shares closing down -0.07 points or -0.18% at a volume of 5,54,994. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.24. The peak price level was also seen at $39.24 while the days lowest was $38.44. Finally the shares closed at $38.57. The 52-week high of the shares is $43.79 while the 52-week low is $27.5. According to the latest information available, the market cap of the company is $2,703 M.

The Medicines Company(MDCO) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $54.73M. Analysts had an estimated revenue of $41.93M. Earnings per share were $-0.62. Analysts had estimated an EPS of $-1.16.

Several Insider Transactions has been reported to the SEC. On Jul 13, 2016, Hiroaki Shigeta (director) sold 3,849 shares at $38.50 per share price.Also, On Jun 10, 2016, Christopher T Cox (EVP & Chief Corp. Dev. Officer) purchased 45,985 shares at $37.62 per share price.On May 26, 2016, Robert G. Savage (director) sold 10,000 shares at $36.95 per share price, according to the Form-4 filing with the securities and exchange commission.

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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