Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Medicines Co (NASDAQ: MDCO) today and set a price target of $85. The company’s shares opened today at $30.14.
Amusa said:
“We continue to reiterate our view of the blockbuster potential of inclisiran based on: 1) inclisiran’s 2x/year subQ dosing, which synergizes with the typical biannual visits of high-risk ASCVD patients, and is likely to increase compliance, 2) sound inclisiran safety seen so far in peer-reviewed journals, and in non-human primates, even at 80x the phase III dose, 3) inclisiran’s unprecedented response rates, and 4) the likelihood of higher gross margins due to lower volumes injected per year and lack of cold storage. We model $5.1 bn of 2030E unconsolidated inclisiran sales, with $3.9 bn economically consolidated by The Medicines Company.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 25.5% and a 52.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Medicines Co with a $59 average price target, representing a 95.8% upside. In a report issued on September 24, Oppenheimer also assigned a Buy rating to the stock with a $50 price target.
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The company has a one-year high of $41.57 and a one-year low of $24.45. Currently, Medicines Co has an average volume of 766.6K.
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The Medicines Co. operates as a biopharmaceutical company, which focuses on saving lives, alleviating suffering and contributing to the economics of healthcare by focusing on acute and intensive care hospitals worldwide. The firm markets its brands Angiomax, Cleviprex, injectable emulsion, Ionsys, Kengreal, Minocin for injection, and Orbactiv.
