Medicines Company Stock Hits Two-Year High on Drug Data

At least three analysts have already issued price-target hikes

Digital Content Manager
Sep 3, 2019 at 10:07 AM
facebook X logo linkedin


The Medicines Company (NASDAQ:MDCO) stock is seeing a huge boost today, after the biopharmaceutical firm announced its experimental drug inclisiran successfully lowered cholesterol in patients with heart disease enrolled in a late-stage trial. SVB Leerink sees the drug's bi-annual injection form as more convenient than treatments from competitors Amgen (AMGN) and Regeneron Pharmaceuticals (REGN). MDCO stock is fresh off a new $47.50, last seen trading up 7.2% at $45. 

Several other analysts are chiming in, too. Cowen, Citigroup, and Oppenheimer lifted their target prices to $50, $55, and $60, respectively, and Bernstein called the study's safety profile reassuring. All nine brokerages in coverage already call MDCO a "strong buy," and the stock's consensus 12-month target price of $60.79 is a 35% premium to current levels.

This bullish sentiment shouldn't come as a surprise, though, given the stock's strong technical performance this year. While the equity briefly dipped lower in mid-August, a big bounce off its 120-day moving average helped the shares clock a 17% monthly gain -- their biggest since January. Plus, MDCO just toppled the $43.50 region, which contained last week's upside.

Things have been optimistic in the options pits, too, with over three calls purchased for every put on the the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) during the last 10 days. The resultant 3.29 call/put volume ratio sits in the 74th percentile of its annual range, suggesting a bigger-than-usual appetite for bullish bets over bearish of late.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI