Medicines Co. (MDCO): Angiomax Offers Optionality But There's A Real Pipeline and Franchise - RBC

RBC Capital analyst, Adnan Butt, reiterated his Outperform rating on The Medicines Company (NASDAQ: MDCO) but does not believe a return can be assured from Angiomax. The scenario exists though and if Angiomax returns, it could add $12-20+/share to valuations, so some optionality should get built back into shares after further clarity. However, he does like MDCO for its differentiated anti-PCSK9 drug candidate and the gram negative antibiotics franchise and thinks positive MDCO-216 and ABP-700 data could add further upside to valuations.

No change to the price target of $48.00

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 $36.19 yesterday.

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