The Medicines Company (MDCO) has risen sharply, recording gains of 10.72% in the past 4 weeks. However, the stock has corrected -1.2% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 8.03% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The Medicines Company (NASDAQ:MDCO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.50 and $38.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $39.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.64, notching a gain of 0.63% for the day. The total traded volume was 524,145 . The stock had closed at $38.40 on the previous day.
The stock has recorded a 20-day Moving Average of 5.57% and the 50-Day Moving Average is 7.05%. The Medicines Company is up 6.74% in the last 3-month period. Year-to-Date the stock performance stands at 3.48%.
The Medicines Company (MDCO) : 6 Wall Street analysts covering The Medicines Company (MDCO) believe that the average level the stock could reach for the short term is $50.67. The maximum price target given is $65 and the minimum target for short term is around $43, hence the standard deviation is calculated at $8.07.
The Medicines Company is a global biopharmaceutical company. The Companys marketed products are: Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Minocin (minocycline) for injection, Orbactiv (oritavancin), PreveLeak and Recothrom Thrombin topical (Recombinant). The Companys 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 Companys 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.