UPDATE: Leerink Swann Raises PT on The Medicines Company Following Analyst Meeting

In a report published Thursday, Leerink Swann analyst Joseph P. Schwartz reiterated an Outperform rating on The Medicines Company (NASDAQ: MDCO), and raised the price target from $40.00 to $42.00.

In the report, Leerink Swann noted, “At today's analyst meeting, MDCO reviewed the status of its ongoing Angiomax patent litigation and highlighted the robust growth and diversification opportunities presented by its burgeoning interventional cardiology and hospital product pipeline. MDCO expects revenues to grow at a CAGR of >20% from 2014-2018, and we are updating our model to include $150MM in peak Fibrocaps sales in 2025 and a top-line growth rate of ~20% for the next 5 years. Reit. OP on MDCO; raising our PT to $42 from $40.”

The Medicines Company closed on Wednesday at $31.64.