Chardan Bullish on The Medicines Company (MDCO); Reiterates $85 Price Target

In a research report issued Wednesday, Chardan analyst Gbola Amusa reiterated a Buy rating on shares of The Medicines Company (NASDAQ:MDCO) with a price target of $85, after the drug maker announced FDA approval of Vabomere for the treatment of adult patients with complicated urinary tract infections (cUTI), including pyelonephritis, making Vabomere the first carbapenem-based combo product approved.

Amusa commented, “The Vabomere approval is a positive that likely catalyzes a value-enhancing monetization of the infectious disease business. Per our research, we expect MDCO value accretion as the company focuses on divestments to unlock value. Keeping in mind the considerable economics paid for anti-infectives businesses in the past (e.g. $8bn+ for Cubist), we support the likelihood of Vabomere’s approval catalyzing the monetization of MDCO’s ID business by year end, leading to material share price upside.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Gbola Amusa has a yearly average return of -1.4% and a 50% success rate. Amusa has a 3.6% average return when recommending MDCO, and is ranked #3745 out of 4621 analysts.

Most of Wall Street echoes a bullish point of view, with TipRanks analytics exhibiting MDCO as a Strong Buy. Based on 6 analysts polled in the last 3 months, 5 rate a Buy on the stock, while 1 issues a Hold. The 12-month average price target stands at $60.83, marking a nearly 67% upside from where the stock is currently trading.


Stay Ahead of Everyone Else

Get The Latest Stock News Alerts