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Downgrade Alert for Medidata Solutions (MDSO)

By Nick Russo

Medidata Solutions (NASDAQ:MDSO) was downgraded from Outperform to Market Perform at Wells Fargo today. The stock closed yesterday at $51.00 on volume of 1.1 million shares, above average daily volume of 402,000.

Medidata Solutions, Inc. provides hosted clinical development solutions. The Company's solutions include comprehensive platform that integrates electronic data capture, or EDC, with a clinical data management system, or CDMS, in a single solution that replaces traditional paper-based methods of capturing and managing clinical data.

In the past 52 weeks, shares of Medidata Solutions have traded between a low of $26.72 and a high of $127.77 and closed yesterday at $51.00, which is 91% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.5%.

There is potential upside of 6.4% for shares of Medidata Solutions based on a current price of $51.00 and an average consensus analyst price target of $54.27. Medidata Solutions shares have support at the 200-day moving average (MA) of $43.54 and additional support at the 50-day MA of $39.04.

SmarTrend is monitoring the recent change of momentum in Medidata Solutions. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Medidata Solutions in search of a potential trend change.

Keywords: analyst upgrades/downgrades medidata solutions

Ticker(s): MDSO