Medivation Inc. (MDVN) Earns “Neutral” Rating from SunTrust Banks Inc.
Several other equities research analysts have also issued reports on the stock. Canaccord Genuity reiterated a buy rating on shares of Medivation in a research report on Sunday, July 17th. Wedbush reiterated an outperform rating and set a $66.00 target price (up from $63.00) on shares of Medivation in a research report on Tuesday, July 12th. Citigroup Inc. reiterated a buy rating on shares of Medivation in a research report on Sunday, June 26th. BMO Capital Markets reiterated a market perform rating and set a $50.00 target price on shares of Medivation in a research report on Thursday, July 7th. Finally, Leerink Swann reiterated a market perform rating and set a $64.00 target price on shares of Medivation in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Medivation has an average rating of Hold and a consensus price target of $73.80.
Shares of Medivation (NASDAQ:MDVN) opened at 80.90 on Wednesday. The firm’s market capitalization is $13.42 billion. The stock’s 50 day moving average is $73.89 and its 200 day moving average is $59.43. Medivation has a 52-week low of $26.41 and a 52-week high of $81.15.
Medivation (NASDAQ:MDVN) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. The company earned $206 million during the quarter, compared to analysts’ expectations of $214.52 million. Medivation had a negative net margin of 17.24% and a positive return on equity of 17.57%. Medivation’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share. On average, equities research analysts forecast that Medivation will post $1.27 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors Inc. increased its stake in Medivation by 22.9% in the first quarter. Teachers Advisors Inc. now owns 163,297 shares of the biopharmaceutical company’s stock worth $7,508,000 after buying an additional 30,481 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Medivation during the first quarter worth about $1,937,000. Torray LLC boosted its position in shares of Medivation by 26.8% in the first quarter. Torray LLC now owns 1,005,770 shares of the biopharmaceutical company’s stock worth $46,245,000 after buying an additional 212,770 shares during the last quarter. Virginia Retirement System purchased a new position in shares of Medivation during the first quarter worth about $1,032,000. Finally, Aperio Group LLC boosted its position in shares of Medivation by 60.4% in the first quarter. Aperio Group LLC now owns 39,435 shares of the biopharmaceutical company’s stock worth $1,813,000 after buying an additional 14,855 shares during the last quarter. 87.79% of the stock is currently owned by hedge funds and other institutional investors.
Medivation Company Profile
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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