Investors Sell Shares of Medivation Inc. (MDVN) on Strength (MDVN)
Traders sold shares of Medivation Inc. (NASDAQ:MDVN) on strength during trading hours on Thursday. $82.41 million flowed into the stock on the tick-up and $100.71 million flowed out of the stock on the tick-down, for a money net flow of $18.30 million out of the stock. Of all companies tracked, Medivation had the 0th highest net out-flow for the day. Medivation traded up $0.01 for the day and closed at $80.24
A number of analysts recently issued reports on the company. Vetr upgraded Medivation from a “sell” rating to a “hold” rating and set a $79.09 price objective on the stock in a research note on Tuesday. Maxim Group set a $76.00 price objective on Medivation and gave the company a “buy” rating in a research note on Monday. Canaccord Genuity reiterated a “buy” rating and set a $82.00 price objective (up from $70.00) on shares of Medivation in a research note on Tuesday. BMO Capital Markets boosted their price objective on Medivation from $67.16 to $81.50 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Credit Suisse Group AG lowered Medivation from an “outperform” rating to a “neutral” rating and set a $81.50 price objective on the stock. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. Medivation presently has a consensus rating of “Hold” and a consensus target price of $76.96.
The stock’s market capitalization is $13.31 billion. The stock has a 50-day moving average of $65.37 and a 200 day moving average of $53.51.
Medivation (NASDAQ:MDVN) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. During the same period last year, the firm posted $0.58 earnings per share. The firm earned $206 million during the quarter, compared to the consensus estimate of $214.52 million. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts expect that Medivation Inc. will post $1.28 earnings per share for the current fiscal year.
In related news, SVP Andrew Kenneth William Powell sold 2,578 shares of Medivation stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
A number of hedge funds and institutional investors recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised 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 valued at $1,255,000 after buying an additional 3,688 shares in the last quarter. KBC Group NV raised 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 valued at $1,556,000 after buying an additional 15,984 shares in the last quarter. Bank of Montreal Can raised 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 valued at $1,844,000 after buying an additional 2,836 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position 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 valued at $2,727,000 after buying an additional 5,200 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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