The Medicines Company MDCO was a big mover last session, as the company saw its shares rise nearly 6% on the day. The uptrend was driven by the firm’s "highly competitive" phase-one data on a cholesterol-lowering drug with bullish views on it 90 days into phase-two testing. This resulted in solid volume with far more shares changing hands than in a normal session. This stock, trading in a volatile price range of $35.10 to $41.50 in the past one-month time frame, showed a pick-up yesterday at $37.95.
None of the estimates for this stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
The Medicines Company currently carries a Zacks Rank #4 (Sell), while its Earnings ESP is positive.
A better-ranked stock in the same industry is Axovant Sciences Ltd. AXON, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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