Traders Sell Medivation Inc. (MDVN) on Strength (MDVN)
Traders sold shares of Medivation Inc. (NASDAQ:MDVN) on strength during trading 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
A number of equities research analysts have commented on the company. Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Medivation in a report on Saturday, August 13th. Wedbush reissued an “outperform” rating and set a $66.00 price target on shares of Medivation in a report on Friday, July 29th. Vetr raised Medivation from a “sell” rating to a “hold” rating and set a $79.09 price target on the stock in a report on Tuesday, August 23rd. Credit Suisse Group AG reissued an “outperform” rating and set a $63.00 price target on shares of Medivation in a report on Wednesday, July 6th. Finally, JMP Securities cut Medivation from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $76.96.
The stock’s 50 day moving average price is $68.45 and its 200 day moving average price is $55.54. The stock’s market capitalization is $13.42 billion.
Medivation (NASDAQ:MDVN) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. The company earned $206 million during the quarter, compared to analysts’ expectations of $214.52 million. During the same period in the prior year, the business posted $0.58 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts expect that Medivation Inc. will post $1.27 EPS 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 dated Monday, June 6th. The shares were sold at an average price of $60.42, for a total value of $155,762.76. Following the transaction, the senior vice president now directly 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 Securities & Exchange Commission, which is available at this link.
An institutional investor recently raised its position in Medivation stock. KBC Group NV increased its position in shares of Medivation Inc. (NASDAQ:MDVN) by 98.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,177 shares of the biopharmaceutical company’s stock after buying an additional 15,984 shares during the period. KBC Group NV’s holdings in Medivation were worth $1,556,000 as of its most recent filing with the SEC.
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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