Camber Capital Management buys $84.9 Million stake in The Medicines Company (MDCO)

The Medicines Company (MDCO) : Camber Capital Management scooped up 300,000 additional shares in The Medicines Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,500,000 shares of The Medicines Company which is valued at $84.9 Million.The Medicines Company makes up approximately 5.18% of Camber Capital Management’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in MDCO in the latest quarter, The investment management firm added 729 additional shares and now holds a total of 2,215 shares of The Medicines Company which is valued at $75,221.Thrivent Financial For Lutherans boosted its stake in MDCO in the latest quarter, The investment management firm added 2,310 additional shares and now holds a total of 32,060 shares of The Medicines Company which is valued at $1.1 Million. The Medicines Company makes up approx 0.01% of Thrivent Financial For Lutherans’s portfolio.Royce Associates Lp reduced its stake in MDCO by selling 58,000 shares or 53.59% in the most recent quarter. The Hedge Fund company now holds 50,232 shares of MDCO which is valued at $1.7 Million. The Medicines Company makes up approx 0.01% of Royce Associates Lp’s portfolio.Blackrock Fund Advisors boosted its stake in MDCO in the latest quarter, The investment management firm added 80,649 additional shares and now holds a total of 5,477,774 shares of The Medicines Company which is valued at $186 Million. The Medicines Company makes up approx 0.04% of Blackrock Fund Advisors’s portfolio.

The Medicines Company closed down -0.12 points or -0.32% at $37.17 with 4,88,467 shares getting traded on Wednesday. Post opening the session at $37.42, the shares hit an intraday low of $37.01 and an intraday high of $37.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, The Medicines Company reported $-1.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.37 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.66. The company had revenue of $50.30 million for the quarter, compared to analysts expectations of $49.11 million. The company’s revenue was down -54.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Many Wall Street Analysts have commented on The Medicines Company. Company shares were Reiterated by Chardan Capital Markets on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $50 .

The Medicines Company is a global biopharmaceutical company. The Company’s marketed products are: Angiomax (bivalirudin) Cleviprex (clevidipine) injectable emulsion Minocin (minocycline) for injection Orbactiv (oritavancin) PreveLeak and Recothrom Thrombin topical (Recombinant). The Company’s products in development include its registration stage product candidates and its research and development product candidates. It has a pipeline of acute and intensive care hospital products in development including four registration stage product candidates for which the Company has submitted applications for regulatory approval in the United States cangrelor IONSYS (fentanyl iontophoretic transdermal system) Raplixa formerly referred to as Fibrocaps and RPX-602. The Company’s four research and development product candidates include ABP-700 ALN-PCSsc Carbavance and MDCO-216. The Company also develops ABP-700 an intravenous anesthetic which is in Phase I of clinical studies.

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