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

A number of research firms have recently issued reports on MDVN. Cowen and Company reissued a “hold” rating on shares of Medivation in a report on Sunday, April 17th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Medivation in a report on Saturday, April 2nd. Canaccord Genuity reaffirmed a “buy” rating on shares of Medivation in a report on Sunday, July 17th. Maxim Group upped their price objective on Medivation from $47.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, May 5th. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Medivation in a report on Sunday, May 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $72.08.

The company has a 50-day moving average price of $60.90 and a 200-day moving average price of $49.11. The stock has a market cap of $10.53 billion and a P/E 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 (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.12. The firm 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 business posted $0.17 EPS. The business’s revenue for the quarter was up 41.3% compared to the same quarter last year. Analysts anticipate that Medivation Inc. will post $1.26 earnings per share for the current year.

In other news, CFO Rick Bierly sold 10,340 shares of Medivation stock in a transaction on Friday, May 6th. The stock was sold at an average price of $59.76, for a total transaction of $617,918.40. Following the transaction, the chief financial officer now directly owns 35,059 shares in the company, valued at approximately $2,095,125.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew Kenneth William Powell sold 2,578 shares of Medivation 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 owns 28,517 shares in the company, valued at $1,722,997.14. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. boosted 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 worth $3,098,000 after buying an additional 14,870 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted 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 worth $1,429,000 after buying an additional 1,979 shares during the last quarter. Andra AP fonden boosted 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 worth $1,479,000 after buying an additional 5,000 shares during the last quarter. Vanguard Group Inc. boosted 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 last quarter. Finally, Westfield Capital Management Co. LP boosted 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 worth $67,845,000 after buying an additional 327,652 shares during 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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