The Medicines Company (MDCO) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $-0.62 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.35. Analysts had a consensus of $-0.97. The company posted revenue of $54.73 million in the period, compared to analysts expectations of $42.26 million. The company’s revenue was down -26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.65 EPS.
The Medicines Company opened for trading at $37.95 and hit $39.2 on the upside on Thursday, eventually ending the session at $38.89, with a gain of 2.45% or 0.93 points. The heightened volatility saw the trading volume jump to 9,75,999 shares. Company has a market cap of $2,725 M.
In a different news, on Jul 13, 2016, Hiroaki Shigeta (director) sold 3,849 shares at $38.50 per share price. According to the SEC, on Jun 10, 2016, Christopher T Cox (EVP & Chief Corp. Dev. Officer) purchased 45,985 shares at $37.62 per share price. On May 26, 2016, Robert G. Savage (director) sold 10,000 shares at $36.95 per share price, according to the Form-4 filing with the securities and exchange commission.
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.