Medicines Company (MDCO)
by Zacks Equity ResearchAugust 24, 2012 | Comments : 0 Recommended this article: (0)
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We expect Angiomax to continue performing well. The resolution of the Angiomax patent extension case was a major boost for the company. The company s settlement agreements with Teva and APP regarding Angiomax are also positive events.
MDCO reported second quarter earnings of $0.38 per share. Second quarter earnings were well above year ago earnings of $0.18 per share. The Zacks Consensus Estimate for the second quarter earnings was $0.17 per share. Earnings were boosted by strong revenues.
The stock is currently trading at 22.2x our 2012 earnings estimate. Our $30 target price is based on 26.8x multiple of our 2012 earnings estimate.
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