Medivation Inc. (NASDAQ:MDVN) hit a new 52-week high on Friday . The company traded as high as $64.16 and last traded at $63.97, with a volume of 2,128,488 shares traded. The stock had previously closed at $62.49.

A number of brokerages recently weighed in on MDVN. Cowen and Company restated a “hold” rating on shares of Medivation in a research note on Sunday, April 17th. Credit Suisse Group AG reiterated a “buy” rating on shares of Medivation in a research note on Saturday, April 2nd. Wedbush reiterated a “buy” rating on shares of Medivation in a research note on Saturday, April 30th. Barclays PLC reiterated a “buy” rating on shares of Medivation in a research note on Sunday, May 8th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Medivation in a research note on Sunday, June 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.08.

The firm’s 50-day moving average is $60.79 and its 200-day moving average is $48.91. The stock has a market cap of $10.53 billion and a price-to-earnings ratio of 42.98.

Medivation (NASDAQ:MDVN) last issued its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.12. The business earned $182.50 million during the quarter, compared to the consensus estimate of $197.01 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis. 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 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 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 available at this link. Also, SVP Andrew Kenneth William Powell sold 2,578 shares of the stock in a transaction 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 in the company, valued at $1,722,997.14. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. raised its position 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 during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position 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 during the period. Andra AP fonden raised its position 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 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 valued at $549,579,000 after buying an additional 458,889 shares during the period. Finally, Westfield Capital Management Co. LP raised its position in shares of Medivation by 30.5% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,403,498 shares of the biopharmaceutical company’s stock valued at $67,845,000 after buying an additional 327,652 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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