by Sam Collins | August 29, 2012 1:46 am
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.
Source URL: http://investorplace.com/2012/08/trade-of-the-day-the-medicines-company-nasdaq-mdco/
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