Jefferies Reiterates a Buy Rating on Medicines Co.

By Carrie Williams

In a report released yesterday, Biren Amin from Jefferies reiterated a Buy rating on Medicines Co. (NASDAQ: MDCO), with a price target of $43. The company’s shares closed yesterday at $36.79.

According to TipRanks.com, Amin is a 5-star analyst with an average return of 6.9% and a 54.1% success rate. Amin covers the Healthcare sector, focusing on stocks such as Bellicum Pharmaceuticals, Anthera Pharmaceuticals, and Aquinox Pharmaceuticals.

Currently, the analyst consensus on Medicines Co. is Strong Buy and the average price target is $45, representing a 22.3% upside.

In a report issued on November 1, Chardan Capital also reiterated a Buy rating on the stock.

The company has a one year high of $43 and a one year low of $27.50. Currently, Medicines Co. has an average volume of 1.26M.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MDCO in relation to earlier this year.

The Medicines Co. is a biopharmaceutical company, which focuses on saving lives, alleviating suffering and contributing to the economics of healthcare by focusing on leading acute and intensive care hospitals worldwide. The company markets its brands Angiomax, Cleviprex, injectable emulsion, Ionsys, Kengreal, Minocin for injection, and Orbactiv. The company was founded by Clive A. Meanwell, Helmut Giersiefen, John W. Villiger and T. Scott Johnson on July 31, 1996 and is headquartered in Parsippany, NJ.