Investors Sell Shares of Medivation Inc. (MDVN) on Strength (MDVN)
Investors 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
MDVN has been the subject of a number of research reports. Wedbush reiterated a “buy” rating on shares of Medivation in a research report on Saturday, April 30th. Leerink Swann set a $64.00 target price on Medivation and gave the company a “hold” rating in a research report on Wednesday, August 10th. Barclays PLC reiterated a “buy” rating on shares of Medivation in a research report on Sunday, May 8th. TheStreet downgraded Medivation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $82.00 target price (up from $70.00) on shares of Medivation in a research report on Tuesday. One equities 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 company’s stock. Medivation currently has a consensus rating of “Hold” and a consensus price target of $76.96.
The stock’s market cap is $13.33 billion. The company’s 50-day moving average is $65.86 and its 200 day moving average is $53.89.
Medivation (NASDAQ:MDVN) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $206 million for the quarter, compared to analyst estimates of $214.52 million. During the same period last year, the firm posted $0.58 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts forecast that Medivation Inc. will post $1.27 EPS for the current year.
In other news, SVP Andrew Kenneth William Powell sold 2,578 shares of the company’s 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 transaction, the senior vice president now owns 28,517 shares of the company’s stock, valued at approximately $1,722,997.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Several institutional investors have made changes to their positions in MDVN. Advisors Asset Management Inc. raised its position in shares of 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 during the period. KBC Group NV raised its position in shares of 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 during the period. Finally, I.G. Investment Management LTD. raised its position in shares of 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 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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