Medivation Inc. (NASDAQ:MDVN) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $63.23 and last traded at $62.61, with a volume of 2,149,381 shares traded. The stock had previously closed at $61.81.

Several brokerages have weighed in on MDVN. Brean Capital reiterated a “buy” rating and issued a $61.00 target price on shares of Medivation in a research note on Saturday, May 7th. Cowen and Company reiterated a “hold” rating on shares of Medivation in a research note on Sunday, April 17th. Zacks Investment Research downgraded Medivation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Jefferies Group reiterated a “hold” rating and issued a $56.00 target price on shares of Medivation in a research note on Thursday, July 7th. Finally, BMO Capital Markets began coverage on Medivation in a research note on Monday, April 11th. They issued a “market perform” rating and a $47.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Medivation has an average rating of “Buy” and a consensus target price of $72.08.

The company’s 50 day moving average price is $60.40 and its 200 day moving average price is $48.16. The firm has a market capitalization of $10.25 billion and a price-to-earnings ratio of 41.81.

Medivation (NASDAQ:MDVN) last issued its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.12. The company earned $182.50 million during the quarter, compared to analyst estimates of $197.01 million. During the same period last year, the business earned $0.17 earnings per share. Medivation’s quarterly revenue was up 41.3% on a year-over-year basis. On average, analysts expect that Medivation Inc. will post $1.29 EPS for the current year.

In related news, CFO Rick Bierly sold 10,340 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $59.76, for a total value of $617,918.40. Following the completion of the transaction, the chief financial officer now directly owns 35,059 shares of the company’s stock, valued at approximately $2,095,125.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew Kenneth William Powell sold 2,578 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $60.42, for a total value of $155,762.76. Following the completion of the transaction, the senior vice president now directly owns 28,517 shares of the company’s stock, valued at $1,722,997.14. The disclosure for this sale can be found here.

A number of institutional investors have modified their holdings of the company. Tekla Capital Management LLC raised its position in shares of Medivation by 224.9% in the fourth quarter. Tekla Capital Management LLC now owns 667,300 shares of the biopharmaceutical company’s stock worth $32,257,000 after buying an additional 461,900 shares during the period. Vanguard Group Inc. raised its position in shares of Medivation by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 11,369,030 shares of the biopharmaceutical company’s stock worth $549,579,000 after buying an additional 458,889 shares during the period. Schroder Investment Management Group acquired a new position in shares of Medivation during the fourth quarter worth about $1,710,000. Globeflex Capital L P raised its position in shares of Medivation by 55.2% in the fourth quarter. Globeflex Capital L P now owns 51,662 shares of the biopharmaceutical company’s stock worth $2,497,000 after buying an additional 18,380 shares during the period. Finally, KBC Group NV raised its position in shares of Medivation by 98.7% in the fourth quarter. KBC Group NV now owns 32,177 shares of the biopharmaceutical company’s stock worth $1,556,000 after buying an additional 15,984 shares during the period.

Medivation, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat serious diseases for which there are limited treatment options. The Company, in collaboration with Astellas Pharma, Inc (Astellas), has one commercial product, XTANDI (enzalutamide) capsules (XTANDI).

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