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UPDATE: JP Morgan Upgrades The Medicines Company to Overweight on Pipeline Outlook

Related MDCO
The Medicines Company Announces BARDA Exercises Next Option on Contract for Support of the Development of CARBAVANCE® (meropenem/RPX7009) for Drug-Resistant Gram-Negative Pathogens
Mid-Afternoon Market Update: NASDAQ Down 1.3%; Medicines Company Shares Gain Following Announcement Of Positive ALN-PCSsc Study Results

JP Morgan raised its rating on The Medicines Company (NASDAQ: MDCO) from Neutral to Overweight and increased its price target from $28 to $32.

JP Morgan noted, "This morning the company reported earlier-than-expected positive top-line Phase 3 results from oritavancin's SOLO-1 trial (in acute skin infections), but the crux of our call is on MDCO's overall risk/reward at current levels. Indeed, we believe the company's Angiomax franchise plus the balance sheet is worth nearly $20/sh alone, thus providing a solid value foundation. Then there's upside optionality from the remaining commercial portfolio and pipeline, including Recothrom, Cleviprex, cangrelor, oritavancin and IONSYS. We believe the scarcity of the company's acute-care-hospital–based infrastructure is also a key component to the story."

The Medicines Company closed at $22.29 on Wednesday.

Latest Ratings for MDCO

Aug 2015RBC CapitalMaintainsOutperform
Aug 2015JefferiesMaintainsBuy
Aug 2015JefferiesUpgradesHoldBuy

View More Analyst Ratings for MDCO
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Upgrades Intraday Update Analyst Ratings


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