After Oppenheimer and Chardan Capital gave Medicines Co (NASDAQ: MDCO) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Chris Shibutani maintained a Buy rating on Medicines Co yesterday and set a price target of $46. The company’s shares closed on Friday at $34.54.
According to TipRanks.com, Shibutani is a 4-star analyst with an average return of 5.2% and a 38.7% success rate. Shibutani covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Five Prime Therapeutics, and Pieris Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Medicines Co with a $71 average price target, implying a 105.6% upside from current levels. In a report issued on July 24, B.Riley FBR also reiterated a Buy rating on the stock with a $61 price target.
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The company has a one-year high of $41.33 and a one-year low of $16.69. Currently, Medicines Co has an average volume of 1.49M.
Based on the recent corporate insider activity of 29 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. is 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.
