Medicines Co (MDCO) Receives a Buy from Cowen & Co.


Cowen & Co. analyst Chris Shibutani maintained a Buy rating on Medicines Co (MDCO) today and set a price target of $46. The company’s shares opened today at $24.77.

According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 5.0% and a 47.9% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Five Prime Therapeutics, G1 Therapeutics Inc, and Puma Biotechnology.

Currently, the analyst consensus on Medicines Co is a Strong Buy with an average price target of $49.33, implying a 99.2% upside from current levels. In a report released today, B.Riley FBR also maintained a Buy rating on the stock with a $38 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 $178 million.

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.

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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