NEW YORK (TheStreet) -- Shares of TheMedicines Co. (MDCO) - Get Medicines Company Report  were falling 10.78% to $34.36 on heavy trading volume early Thursday afternoon after Alnylam Pharmaceuticals (ALNY) ended development of revusiran, one of its two gene-silencing drugs. 

Medicines Co. is working with the Cambridge, MA-based biopharmaceutical company to develop PCSK9si, a gene-silencing medication used to treat high cholesterol. 

Medicines Co. said yesterday that it's seen "impressive" safety data from its ongoing Phase II trial of PCSK9si.

Despite the stock's recent pullback, Leerink maintained its "outperform" rating on Medicines Co. 

"We see these updates as roughly offsetting discouraging/encouraging items, and given the different chemistry/much lower exposure of PCSK9si, we are not adjusting our probability of success for this MDCO program," the firm said in an analyst note, according to Barron's.

Leerink added that it expects the full PCSK9si data to be "under the microscope" when its released in November. 

Medicines Co. is a Parsippany-Troy Hills, NJ-based biopharmaceutical company. 

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About 5.58 million of Medicine Co.'s shares have changed hands so far today vs. its average volume of 864,143 shares per day.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

The team rates Medicines Co. as a Hold with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, the team also finds weaknesses including disappointing return on equity and weak operating cash flow.

You can view the full analysis from the report here: MDCO

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