Praluent Injunction is Positive for The Medicines Company (MDCO) - Jefferies; PT to $49

January 6, 2017 6:44 AM EST
Get Alerts MDCO Hot Sheet
Price: $84.90 --0%

Rating Summary:
    12 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 3 | New: 20
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Jefferies analyst Biren Amin raised his price target on Buy-rated The Medicines Company (NASDAQ: MDCO) to $49.00 (from $43.00), saying theinjunction on Sanofi/REGN's Praluent could mean blue skies for inclisiran.

Amin commented, "The District Court of Delaware ruled in favor of AMGN on the permanent injunction against SAN.FP/REGN's Praluent, where we see low odds of reversal on appeal. This should have a favorable read-through to MDCO's inclisiran since it is completely unique to the monoclonal antibody approach and therefore would not infringe on AMGN's patents. As a result, we are raising our inclisiran peak sales estimates in our model to $2.4B in 2027, which raises our PT to $49."

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 $35.52 yesterday.



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