Medicines Co. (MDCO): Upcoming Catalysts - Guggenheim
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Downgrades Kroger (KR) to Hold
- Jefferies Cuts Price Target on Workday (WDAY) to $71 Following 3Q
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesLouise Chen, Guggenheim
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!