Medicines Co Gets a Buy Rating from Chardan Capital


Chardan Capital analyst Gbola Amusa maintained a Buy rating on Medicines Co (NASDAQ: MDCO) today and set a price target of $85. The company’s shares closed yesterday at $35.59.

Amusa commented:

“We wish to re-emphasize growing confidence in RNAi safety by highlighting how the view of Regeneron (Neutral) on RNAi seems to have changed. For example, on 15 in defense of inclisiran competitor, Praluent, previously stated RNAi and antisense technologies have “[a lot] of unproven and unknown safety issues” and these technologies were not “a major way forward in a field where you have a technology that’s proven and works.” We note Regeneron, however, recently on 21 March 2018 announced a collaboration with MDCO partner, Alnylam (Buy), for NASH, another mass-market indication where safety needs to be robust. This positive DMC review supports our high-conviction thesis that inclisiran has the potential to be a blockbuster drug (we model model $4.7 billion in 2030E peak sales).”

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 26.3% and a 54.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Applied Genetic Technologies.

Currently, the analyst consensus on Medicines Co is a Moderate Buy with an average price target of $70.

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The company has a one-year high of $43.79 and a one-year low of $24.45. Currently, Medicines Co has an average volume of 767.7K.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Last month, Melvin Spigelman, a Director at MDCO sold 7,500 shares for a total of $241,500.

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. 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.

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