Equities research analysts expect The Medicines Company (NASDAQ:MDCO) to report ($0.66) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for The Medicines’ earnings, with estimates ranging from ($0.68) to ($0.62). The Medicines posted earnings of ($0.63) per share in the same quarter last year, which would suggest a negative year over year growth rate of 4.8%. The firm is expected to announce its next earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that The Medicines will report full year earnings of ($2.57) per share for the current fiscal year, with EPS estimates ranging from ($2.83) to ($2.40). For the next financial year, analysts anticipate that the firm will report earnings of ($2.24) per share, with EPS estimates ranging from ($2.80) to ($1.85). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover The Medicines.
The Medicines (NASDAQ:MDCO) last released its earnings results on Thursday, April 25th. The company reported ($0.80) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.09). During the same period last year, the company earned ($0.76) earnings per share. The Medicines’s revenue for the quarter was down 100.0% compared to the same quarter last year.
Several research firms have commented on MDCO. Roth Capital set a $14.00 target price on Enphase Energy and gave the stock a “buy” rating in a report on Thursday, March 21st. Bank of America reaffirmed a “buy” rating and set a $43.00 price target (up from $36.00) on shares of The Medicines in a report on Tuesday. B. Riley set a $61.00 price target on The Medicines and gave the company a “buy” rating in a report on Tuesday, May 28th. Goldman Sachs Group reaffirmed a “buy” rating and set a $68.00 price target on shares of Total in a report on Friday, April 26th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $90.00 price target (up from $85.00) on shares of The Medicines in a report on Friday, April 26th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.70.
In other news, Director Alexander J. Denner bought 160,000 shares of the stock in a transaction on Monday, May 20th. The shares were bought at an average price of $34.50 per share, with a total value of $5,520,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander J. Denner bought 85,000 shares of the stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $34.83 per share, for a total transaction of $2,960,550.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 726,000 shares of company stock worth $24,737,140. Corporate insiders own 10.29% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MDCO. Crossmark Global Holdings Inc. bought a new position in The Medicines during the second quarter valued at approximately $259,000. Marshall Wace North America L.P. bought a new position in The Medicines during the first quarter valued at approximately $1,897,000. Westfield Capital Management Co. LP boosted its stake in The Medicines by 14.9% during the first quarter. Westfield Capital Management Co. LP now owns 5,290,481 shares of the company’s stock valued at $147,869,000 after buying an additional 685,762 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in The Medicines by 10.3% during the first quarter. First Eagle Investment Management LLC now owns 492,873 shares of the company’s stock valued at $13,776,000 after buying an additional 45,838 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in The Medicines by 27.6% during the first quarter. CIBC Private Wealth Group LLC now owns 15,468 shares of the company’s stock valued at $432,000 after buying an additional 3,350 shares during the last quarter.
The Medicines stock traded up $0.63 during mid-day trading on Thursday, hitting $38.44. The company had a trading volume of 1,789,995 shares, compared to its average volume of 1,281,998. The business has a 50 day simple moving average of $36.05. The Medicines has a 12 month low of $16.69 and a 12 month high of $41.57. The company has a market capitalization of $2.85 billion, a P/E ratio of -13.21 and a beta of 1.08.
The Medicines Company Profile
The Medicines Company, a biopharmaceutical company, focuses on developing therapeutics for the treatment of therosclerotic cardiovascular disease. The company is developing Inclisiran, an investigational RNA interference therapeutic that inhibits production of proprotein convertase subtilisin/kexin type 9, which controls LDL-cholesterol levels.
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