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Fly News Breaks for September 3, 2019
MDCO
Sep 3, 2019 | 07:21 EDT
Oppenheimer analyst Jay Olson raised his price target for The Medicines Co. to $60 from $52 after the company presented details from the Phase 3 ORION-11 trial at ESC after recent topline results. The analyst believes the results "significantly de-risk" ORION-9 and -10 data to read-out sequentially in late Q3, and views The Medicines Co. as an "attractive" potential M&A target. Based on positive ORION-11 details, he also increased his Probability of Success for inclisiran to 80% from 70%. Olson reiterates an Outperform rating on the shares.
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