Traders purchased shares of Medivation Inc. (NASDAQ:MDVN) on weakness during trading hours on Wednesday. $22.85 million flowed into the stock on the tick-up and $8.91 million flowed out of the stock on the tick-down, for a money net flow of $13.94 million into the stock. Of all companies tracked, Medivation had the 13th highest net in-flow for the day. Medivation traded down ($0.06) for the day and closed at $61.81

A number of research firms have commented on MDVN. Goldman Sachs Group Inc. began coverage on Medivation in a report on Wednesday, March 30th. They issued a “neutral” rating and a $44.00 target price for the company. Leerink Swann reissued a “hold” rating and issued a $70.00 target price (up previously from $55.00) on shares of Medivation in a report on Monday, April 25th. Canaccord Genuity reissued a “hold” rating and issued a $45.00 target price on shares of Medivation in a report on Tuesday, March 29th. Credit Suisse Group AG reissued an “outperform” rating and issued a $63.00 target price on shares of Medivation in a report on Wednesday, July 6th. Finally, Jefferies Group reissued a “hold” rating and issued a $56.00 target price on shares of Medivation in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $72.08.

The stock has a market cap of $10.18 billion and a PE ratio of 41.51. The stock has a 50 day moving average of $60.40 and a 200 day moving average of $48.16.

Medivation (NASDAQ:MDVN) last released its earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.12. During the same quarter last year, the firm posted $0.17 earnings per share. The company earned $182.50 million during the quarter, compared to analysts’ expectations of $197.01 million. Medivation’s revenue for the quarter was up 41.3% compared to the same quarter last year. Equities analysts anticipate that Medivation Inc. will post $1.29 EPS for the current fiscal year.

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

Other large investors recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Medivation by 30.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 64,075 shares of the biopharmaceutical company’s stock valued at $3,098,000 after buying an additional 14,870 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Medivation by 7.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 29,559 shares of the biopharmaceutical company’s stock valued at $1,429,000 after buying an additional 1,979 shares in the last quarter. Andra AP fonden increased its stake in shares of Medivation by 19.5% in the fourth quarter. Andra AP fonden now owns 30,600 shares of the biopharmaceutical company’s stock valued at $1,479,000 after buying an additional 5,000 shares in the last quarter. Vanguard Group Inc. increased its stake 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 valued at $549,579,000 after buying an additional 458,889 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of Medivation by 9.5% in the fourth quarter. TD Asset Management Inc. now owns 28,804 shares of the biopharmaceutical company’s stock valued at $1,392,000 after buying an additional 2,500 shares in the last quarter.

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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