UPDATE: Credit Suisse Initiates The Medicines Company at Outperform on Pipeline Catalysts
Credit Suisse initiated The Medicines Company (NASDAQ: MDCO) with an Outperform rating and a $38.00 price target.
Credit Suisse analyst Jason Kantor noted, "MDCO should gain operational synergy with four potential new product launches in 2014. The focus on expanding the commercial footprint within the hospital segment leverages core strengths, and the reduced dependence on Angiomax provides visibility on the business after the introduction of generics. U.S. Angiomax is expected to decrease as a percent of total sales from 90% in 2012 to 74% in 2014."
The Medicines Company closed at $31.95 on Thursday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.