Medicines Co. (MDCO): Upcoming Catalysts - Guggenheim
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Guggenheim analyst, Louise Chen, reiterated her Buy rating on The Medicines Company (NASDAQ: MDCO) and noted catalysts ahead.
MDCO could publish 3-month and some 6-month Phase 2 data for its PCSK9 next month. The company expects to have most, if not all, of the 3-month data, and some of the 6-month data by September. Given the interest in PCKS9s, MDCO plans to publish a press release with top-line data as soon as possible, and provide more details at a medical conference. If the Phase 2 PCSK9 data for MDCO and outcomes data are both positive, we would expect MDCO's stock to trade toward our $55 PT. Based on our diligence, a 20%-30% reduction in heart attacks/death may be enough to increase uptake of this drug class.
Shares of The Medicines Company closed at $37.01 yesterday.
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Related EntitiesLouise Chen, Guggenheim
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