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MDCO

The Medicines Co.

$27.14

-1.24 (-4.37%)

, MLNT

Melinta Therapeutics

$16.45

-0.05 (-0.30%)

07:02
01/08/18
01/08
07:02
01/08/18
07:02

The Medicines Co. closes sale of infectious disease unit to Melinta Therapeutics

The Medicines Company (MDCO) announced the closing of the sale of its infectious disease business unit to Melinta Therapeutics (MLNT) for consideration consisting of $215M of guaranteed cash, approximately 3.3M shares of Melinta common stock, tiered royalty payments of 5% to 25% on worldwide net sales of Vabomere, Orbactiv and Minocin V, and the assumption by Melinta of all royalty, milestone and other payment obligations relating to those products. The company expects to provide additional details regarding its cash position and plans as part of its fourth quarter and full year 2017 financial results.

MDCO

The Medicines Co.

$27.14

-1.24 (-4.37%)

MLNT

Melinta Therapeutics

$16.45

-0.05 (-0.30%)

  • 08

    Jan

  • 23

    Jan

MDCO The Medicines Co.
$27.14

-1.24 (-4.37%)

07/12/17
OPCO
07/12/17
NO CHANGE
OPCO
Perform
The Medicines Co. could see a 14% increment in value, says Oppenheimer
Oppenheimer analyst Jay Olson says The Medicines Co. shares could see a 14% increment in value if the August PDUFA for carbavance results in FDA approval. The analyst assumes an 88% chance of this upside scenario based on published data for anti-infectives. The analyst also expects The Medicines Co. to leverage a potential carbavance approval to raise cash for funding development of inclisiran, potentially via a non-dilutive deal. Olson reiterates a Perform rating on the shares.
10/23/17
GUGG
10/23/17
INITIATION
Target $45
GUGG
Buy
The Medicines Co. initiated with a Buy at Guggenheim
Guggenheim analyst Adnan Butt initiated The Medicines Co. with a Buy rating and $45 price target.
11/30/17
OPCO
11/30/17
UPGRADE
Target $50
OPCO
Outperform
The Medicines Co. upgraded to Outperform from Perform at Oppenheimer
Oppenheimer analyst Jay Olson upgraded The Medicines Co. to Outperform citing the company's "successful transformation" into a pure-play research and development biotech company focused entirely on inclisiran, an siRNA PCSK9 inhibitor. The analyst is positive on Medicines' agreement to sell its infectious disease business.
11/30/17
11/30/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. The Medicines Co. (MDCO) upgraded to Outperform from Perform at Oppenheimer with analyst Jay Olson citing the company's "successful transformation" into a pure-play research and development biotech company focused entirely on inclisiran, an siRNA PCSK9 inhibitor. 2. Boston Scientific (BSX) upgraded to Buy from Neutral at BTIG with analyst Sean Lavin saying his prior Neutral rating was based on concerns that Lotus timelines were too aggressive and that the valve may never make it to the U.S. market. 3. Melinta Therapeutics (MLNT) upgraded to Hold from Sell at Gabelli. 4. Canadian National (CNI) upgraded to Buy on valuation at TD Securities with analyst Cherilyn Radbourne citing recent share price weakness. 5. HCA Healthcare (HCA) upgraded to Overweight from Neutral at JPMorgan with analyst Gary Taylor saying he is making a "relatively short-term call" that the currently proposed U.S. corporate tax reform would disproportionately benefit HCA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MLNT Melinta Therapeutics
$16.45

-0.05 (-0.30%)

11/30/17
LTCO
11/30/17
UPGRADE
Target $21
LTCO
Buy
Melinta Therapeutics upgraded to Buy from Neutral at Ladenburg
Ladenburg Thalmann analyst Kevin Degeeter upgraded Melinta Therapeutics to Buy with a $21 price target.
11/30/17
GABE
11/30/17
UPGRADE
GABE
Hold
Melinta Therapeutics upgraded to Hold from Sell at Gabelli

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