Market Overview

UPDATE: Oppenheimer Initiates The Medicines Company at Outperform on Pipeline Value

Share:
Related MDCO
Eagle Pharma Has 'Several Upcoming Catalysts' And Is A Buy, RBC Says
The Medicines Company Announces FDA Approval of KENGREAL as an Adjunct to Percutaneous Coronary Intervention for Reducing Thrombotic Events
Seeking Alpha's Biotech Weekly: Celgene-Juno, Gilead's HIV NDA, Happy 4th! (Seeking Alpha)

Oppenheimer initiated coverage on The Medicines Company (NASDAQ: MDCO) with an Outperform rating and a $35 price target.

Oppenheimer said, "Our positive stance is based on our view that Angiomax, MDCO's key commercial asset, is worth ~$19/share alone, suggesting the market is attributing little/no value to MDCO's pipeline, which consists of two potentially promising Phase III assets. We look for Phase III data from antiplatelet-agent Cangrelor by YE12/early 2013, and data from two Phase III studies of antibiotic asset Oritavancin, being developed to treat ABSSSI, in 1H13, which we anticipate could serve as significant positive catalysts for the stock. Our $35 PT is based on the average of our sum-ofthe-parts and DCF analysis."

The Medicines Company closed at $20.36 on Monday.

Latest Ratings for MDCO

DateFirmActionFromTo
May 2015Leerink SwannMaintainsOutperform
May 2015JP MorganMaintainsOverweight
Apr 2015CitigroupMaintainsNeutral

View More Analyst Ratings for MDCO
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (MDCO)

Around the Web, We're Loving...

Get Benzinga's Newsletters