Fly News Breaks for January 22, 2018
ESPR, MDCO
Jan 22, 2018 | 07:48 EDT
Citi analyst Joel Beatty upgraded The Medicines Co. (MDCO) to Buy and raised his price target for the shares to $40 from $38 after resuming coverage of the name. The analyst believes the company's inclisiran will have higher sales than Esperion's (ESPR) bempedoic acid due to its stronger LDL cholesterol lowering effect and once every three-to-six month dosing. Beatty this morning also downgraded Esperion to Neutral from Buy. He believes a takeover of The Medicines Co. is more likely than Esperion and that deal could come sooner than the second half of 2019 late-stage study results due to tax law changes.
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