Traders Sell Medivation Inc. (MDVN) on Strength (MDVN)
Traders sold shares of Medivation Inc. (NASDAQ:MDVN) on strength during trading hours on Friday. $40.06 million flowed into the stock on the tick-up and $81.68 million flowed out of the stock on the tick-down, for a money net flow of $41.62 million out of the stock. Of all equities tracked, Medivation had the 0th highest net out-flow for the day. Medivation traded up $0.37 for the day and closed at $80.93
Several equities analysts recently commented on the company. Citigroup Inc. upgraded Medivation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $37.00 to $73.00 in a research note on Friday, May 6th. Barclays PLC upped their price objective on Medivation from $48.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, May 6th. Brean Capital reiterated a “buy” rating and issued a $61.00 price objective on shares of Medivation in a research note on Saturday, May 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $70.00 price objective (up previously from $40.00) on shares of Medivation in a research note on Saturday, May 7th. Finally, Leerink Swann reiterated a “market perform” rating and issued a $64.00 price objective (up previously from $39.00) on shares of Medivation in a research note on Saturday, May 7th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $76.96.
The firm’s market cap is $13.42 billion. The company has a 50 day moving average of $68.45 and a 200-day moving average of $55.54.
Medivation (NASDAQ:MDVN) last announced its quarterly earnings data 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 quarter last year, the business earned $0.58 earnings per share. The firm had revenue of $206 million for the quarter, compared to the consensus estimate of $214.52 million. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Medivation Inc. will post $1.27 earnings per share for the current fiscal year.
In related news, SVP Andrew Kenneth William Powell sold 2,578 shares of the firm’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 transaction, the senior vice president now directly owns 28,517 shares in the company, valued at $1,722,997.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
A hedge fund recently raised its stake in Medivation stock. I.G. Investment Management LTD. boosted its stake in Medivation Inc. (NASDAQ:MDVN) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.
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).