The Medicines Company (NASDAQ:MDCO) — This pharmaceutical company is focused on the treatment of critical care patients through the global hospital network. All of its acute-care, generic products are injectable. It recently entered into an agreement with AstraZeneca (NYSE:AZN) to market a key heart drug called Brilinta.
Analysts estimate that the company will earn 90 cents in 2012 and $1.26-plus in 2013.
Technically the stock broke from a right triangle in June, and then retreated to its uptrend line and 50-day moving average where it found support.
In July, it gapped higher as part of a bullish flag formation and recently popped from its 50-day moving average again. This is a very bullish pattern, and it supported by a buy from the stochastic. Our trading target for MDCO is $30-plus.