B.Riley FBR analyst Mayank Mamtani maintained a Buy rating on Medicines Co (MDCO) today and set a price target of $38. The company’s shares opened today at $24.77.
Mamtani wrote:
“Company (MDCO) reported 4Q18 results and provided a corporate update, the first time under the new leadership of CEO Mark Timney. 4Q18 EPS of (0.58) came ahead of our/consensus expectations of (0.94)/(0.64), largely driven by one-time adjustments related to the ongoing operational execution on a clearly laid out strategy focused solely on inclisiran’s commercialization globally following Ph. III readout in 3Q19 across ORION-9/10/11 in dyslipidemia (high cholesterol) patients with elevated atherosclerosis risk (ASCVD). Reiterate Buy, increasing PT from $34 to $38 with model updates mainly relating to tighter operating spend near-term.”
According to TipRanks.com, Mamtani is a 3-star analyst with an average return of 5.5% and a 56.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.
Medicines Co has an analyst consensus of Strong Buy, with a price target consensus of $48.
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The company has a one-year high of $41.57 and a one-year low of $16.69. Currently, Medicines Co has an average volume of 1.3M.
Based on the recent corporate insider activity of 37 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.
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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.
