Sarissa Capital Management Lp buys $64,841,520 stake in The Medicines Company (MDCO)

The Medicines Company (MDCO) : Sarissa Capital Management Lp scooped up 185,000 additional shares in The Medicines Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,752,000 shares of The Medicines Company which is valued at $64,841,520.The Medicines Company makes up approximately 11.66% of Sarissa Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp boosted its stake in MDCO in the latest quarter, The investment management firm added 63,344 additional shares and now holds a total of 9,804,398 shares of The Medicines Company which is valued at $362,860,770. The Medicines Company makes up approx 0.09% of Wellington Management Group Llp’s portfolio.Alliancebernstein reduced its stake in MDCO by selling 56,879 shares or 4.93% in the most recent quarter. The Hedge Fund company now holds 1,097,345 shares of MDCO which is valued at $40,612,738. The Medicines Company makes up approx 0.03% of Alliancebernstein’s portfolio.First Mercantile Trust Co reduced its stake in MDCO by selling 120 shares or 3.41% in the most recent quarter. The Hedge Fund company now holds 3,400 shares of MDCO which is valued at $125,834. The Medicines Company makes up approx 0.01% of First Mercantile Trust Co’s portfolio.Ubs Asset Management Americas Inc reduced its stake in MDCO by selling 114,224 shares or 5.56% in the most recent quarter. The Hedge Fund company now holds 1,938,960 shares of MDCO which is valued at $71,586,403. The Medicines Company makes up approx 0.08% of Ubs Asset Management Americas Inc’s portfolio.Td Asset Management Inc reduced its stake in MDCO by selling 1,500 shares or 9.93% in the most recent quarter. The Hedge Fund company now holds 13,600 shares of MDCO which is valued at $525,504.

The Medicines Company closed down -0.2 points or -0.51% at $38.97 with 7,19,720 shares getting traded on Thursday. Post opening the session at $39, the shares hit an intraday low of $38.61 and an intraday high of $40 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, The Medicines Company reported $-0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.97. The company had revenue of $54.73 million for the quarter, compared to analysts expectations of $42.26 million. The company’s revenue was down -26.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.65 EPS.

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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