Traders Sell Shares of Medivation Inc. (MDVN) on Strength (MDVN)
Traders sold shares of Medivation Inc. (NASDAQ:MDVN) on strength during trading hours on Monday. $366.72 million flowed into the stock on the tick-up and $471.81 million flowed out of the stock on the tick-down, for a money net flow of $105.09 million out of the stock. Of all equities tracked, Medivation had the 2nd highest net out-flow for the day. Medivation traded up $13.26 for the day and closed at $80.42
Several research firms have recently issued reports on MDVN. Brean Capital restated a “buy” rating and set a $61.00 price objective on shares of Medivation in a report on Saturday, May 7th. Zacks Investment Research downgraded shares of Medivation from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Jefferies Group restated a “hold” rating and set a $56.00 price objective on shares of Medivation in a report on Thursday, July 7th. Wedbush reiterated an “outperform” rating and issued a $66.00 target price (up previously from $63.00) on shares of Medivation in a research report on Tuesday, July 12th. Finally, Leerink Swann reiterated a “hold” rating on shares of Medivation in a research report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $74.11.
The stock’s market capitalization is $13.34 billion. The company’s 50-day moving average is $63.91 and its 200-day moving average is $52.76.
Medivation (NASDAQ:MDVN) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The firm had revenue of $206 million for the quarter, compared to analysts’ expectations of $214.52 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, analysts predict that Medivation Inc. will post $1.28 earnings per share for the current year.
In other Medivation news, SVP Andrew Kenneth William Powell sold 2,578 shares of the business’s stock in a transaction on 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 in the company, valued at $1,722,997.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Other institutional investors recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in Medivation by 16.6% in the fourth quarter. Advisors Asset Management Inc. now owns 25,952 shares of the biopharmaceutical company’s stock worth $1,255,000 after buying an additional 3,688 shares during the period. Andra AP fonden boosted its position in 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 period. KBC Group NV boosted its position in 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. Schroder Investment Management Group bought a new position in Medivation during the fourth quarter worth $1,710,000. Finally, Bank of Montreal Can boosted its position 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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