Jefferies Upgrades The Medicines Company (MDCO) to Buy

Jefferies upgraded The Medicines Company (NASDAQ: MDCO) from Hold to Buy with a price target of $43.00 (from $29.00), saying pipeline opportunities should provide a catalyst for the stock.

Analyst Biren Amin commented, "We are upgrading MDCO to a Buy from Hold given multiple pipeline assets could serve as catalysts. Multiple data readouts are expected over the next 12-18 months starting w/ PI data from ALN-PCSsc in patients w/ elevated LDL on Sunday morning. Moreover, positive data from the Carbavance PIII data in Gram negative hospital infections in mid-2016 should also support our thesis."

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 $31.75 yesterday.

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