Oppenheimer Starts The Medicines Company (MDCO) at Outperform

November 20, 2012 7:11 AM EST Send to a Friend
Get Alerts MDCO Hot Sheet
Price: $21.94 -0.23%

Rating Summary:
    8 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Oppenheimer initiates coverage on The Medicines Company (NASDAQ: MDCO) with a Outperform. PT $35.00.

The firm comments, "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-of-the-parts and DCF analysis"

For an analyst ratings summary and ratings history on The Medicines Company click here. For more ratings news on The Medicines Company click here.

Shares of The Medicines Company closed at $20.89 yesterday.


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