Medicines (MDCO) Investors Overreacting, Says RBC

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July 12, 2013 1:36 PM EDT
Get Alerts MDCO Hot Sheet
Price: $84.90 --0%

Rating Summary:
    12 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 8 | New: 31
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RBC Capital today maintained an Outperform of The Medicines Company (NASDAQ: MDCO) with a price target of $41.00. Comments follow a claims construction ruling that went against Medicines Co.

Analyst Adnan Butt said the ruling is a modest negative and creates uncertainty over whether Medicines can maintain Angiomax exclusivity. In his view, generic competition in 2015 would lower his price target by $7. However, shares may be overacting given Medicines pipeline. He thinks shares will trade range-bound until further insight and/or trial results with Hospira (NYSE: HSP) scheduled for September.

For an analyst ratings summary and ratings history on The Medicines Company (NASDAQ: MDCO) click here. For more ratings news on The Medicines Company click here.

Shares of The Medicines Company closed at $34.03 yesterday.

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