Medivation Inc. (MDVN) Reaches New 52-Week High at $80.98
Medivation Inc. (NASDAQ:MDVN) reached a new 52-week high on Thursday . The company traded as high as $80.98 and last traded at $80.74, with a volume of 4,666,580 shares. The stock had previously closed at $80.56.
A number of equities research analysts have recently weighed in on the company. Vetr raised Medivation from a “sell” rating to a “hold” rating and set a $79.09 price target for the company in a research note on Tuesday, August 23rd. Maxim Group set a $76.00 price target on Medivation and gave the stock a “buy” rating in a research note on Monday, August 22nd. Canaccord Genuity reaffirmed a “buy” rating and set a $82.00 price target (up from $70.00) on shares of Medivation in a research note on Tuesday, August 23rd. BMO Capital Markets raised their price target on Medivation from $67.16 to $81.50 and gave the stock a “market perform” rating in a research note on Tuesday, August 23rd. Finally, Credit Suisse Group AG downgraded Medivation from an “outperform” rating to a “neutral” rating and set a $81.50 price target for the company. in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $76.96.
The firm’s market capitalization is $13.42 billion. The stock’s 50-day moving average is $67.38 and its 200 day moving average is $55.18.
Medivation (NASDAQ:MDVN) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The business earned $206 million during the quarter, compared to the consensus estimate of $214.52 million. Medivation’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Analysts expect that Medivation Inc. will post $1.27 earnings per share for the current year.
In other news, SVP Andrew Kenneth William Powell sold 2,578 shares of the company’s stock in a transaction that occurred 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 $1,722,997.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently raised its stake in Medivation stock. I.G. Investment Management LTD. boosted its position in shares of Medivation Inc. (NASDAQ:MDVN) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,420 shares of the biopharmaceutical company’s stock after buying an additional 5,200 shares during the period. I.G. Investment Management LTD.’s holdings in Medivation were worth $2,727,000 at the end of the most recent 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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