Jefferies Keeps Their Buy Rating on Medicines Co

By Carrie Williams

Jefferies analyst Eun Yang reiterated a Buy rating on Medicines Co (NASDAQ: MDCO) on June 26 and set a price target of $62. The company’s shares closed yesterday at $38.03.

According to TipRanks.com, Yang is a 4-star analyst with an average return of 3.7% and a 50.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Achillion Pharmaceuticals, and Ionis Pharmaceuticals Inc.

Currently, the analyst consensus on Medicines Co is Strong Buy and the average price target is $57.40, representing a 50.9% upside.

In a report issued on June 12, Leerink Swann also maintained a Buy rating on the stock with a $54 price target.

Based on Medicines Co’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $24.22 million and GAAP net loss of $103 million. In comparison, last year the company earned revenue of $50.31 million and had a GAAP net loss of $93.45 million.

Based on the recent corporate insider activity of 43 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. Last month, Melvin Spigelman, a Director at MDCO bought 7,500 shares for a total of $147,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.