Medivation Inc. (NASDAQ:MDVN) shares dropped 0.9% during trading on Monday . The stock traded as low as $65.23 and last traded at $65.42, with a volume of 434,239 shares changing hands. The stock had previously closed at $66.02.

MDVN has been the subject of several research reports. Canaccord Genuity reissued a “buy” rating and set a $70.00 price objective on shares of Medivation in a report on Saturday. Leerink Swann restated a “hold” rating and set a $70.00 target price (up from $55.00) on shares of Medivation in a research report on Monday, April 25th. Wedbush restated an “outperform” rating and set a $66.00 target price on shares of Medivation in a research report on Friday, July 29th. Credit Suisse Group AG restated an “outperform” rating and set a $63.00 target price on shares of Medivation in a research report on Wednesday, July 6th. Finally, JMP Securities cut shares of Medivation from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $72.46.

The stock’s market capitalization is $10.84 billion. The firm’s 50 day moving average is $62.46 and its 200 day moving average is $51.40.

Medivation (NASDAQ:MDVN) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $206 million for the quarter, compared to analysts’ expectations of $214.52 million. During the same period last year, the firm earned $0.58 earnings per share. Medivation’s revenue for the quarter was up 17.4% on a year-over-year basis. Analysts anticipate that Medivation Inc. will post $1.28 EPS for the current year.

In other Medivation news, SVP Andrew Kenneth William Powell sold 2,578 shares of Medivation stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $60.42, for a total transaction of $155,762.76. Following the transaction, the senior vice president now directly owns 28,517 shares of the company’s stock, valued at $1,722,997.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Other large investors recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP increased its stake in 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 period. BlackRock Advisors LLC increased its stake in Medivation by 3.3% in the fourth quarter. BlackRock Advisors LLC now owns 1,245,350 shares of the biopharmaceutical company’s stock worth $60,201,000 after buying an additional 40,001 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in 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 period. I.G. Investment Management LTD. increased its stake in Medivation by 10.2% in the fourth quarter. I.G. Investment Management LTD. now owns 56,420 shares of the biopharmaceutical company’s stock worth $2,727,000 after buying an additional 5,200 shares during the period. Finally, Bank of Montreal Can increased its stake in Medivation by 8.0% in the fourth quarter. Bank of Montreal Can now owns 38,138 shares of the biopharmaceutical company’s stock worth $1,844,000 after buying an additional 2,836 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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