In a report released yesterday, Chris Shibutani from Cowen & Co. maintained a Buy rating on Medicines Co (MDCO), with a price target of $46. The company’s shares closed on Friday at $23.79, close to its 52-week low of $23.22.
According to TipRanks.com, Shibutani is a 3-star analyst with an average return of 1.3% and a 36.9% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Lexicon Pharmaceuticals, and Pieris Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Medicines Co with a $60.20 average price target, which is a 153.0% upside from current levels. In a report issued on November 9, Oppenheimer also maintained a Buy rating on the stock with a $50 price target.
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Based on Medicines Co’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $55.63 million. In comparison, last year the company had a GAAP net loss of $30.18 million.
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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.
