Medivation Inc. (MDVN) Given Hold Rating at BMO Capital Markets
Several other equities analysts have also issued reports on MDVN. Canaccord Genuity reaffirmed a buy rating on shares of Medivation in a report on Sunday, July 17th. Citigroup Inc. reaffirmed a buy rating on shares of Medivation in a report on Sunday, June 26th. Maxim Group set a $76.00 target price on shares of Medivation and gave the stock a buy rating in a research note on Monday, August 22nd. Stifel Nicolaus downgraded shares of Medivation from a buy rating to a hold rating in a research note on Tuesday, August 23rd. Finally, Leerink Swann reiterated a market perform rating and set a $64.00 target price on shares of Medivation in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $73.80.
Medivation (NASDAQ:MDVN) remained flat at $81.44 during midday trading on Friday. The stock has a 50 day moving average of $77.41 and a 200-day moving average of $61.39. Medivation has a 1-year low of $26.41 and a 1-year high of $81.48.
Medivation (NASDAQ:MDVN) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping the 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. Medivation had a positive return on equity of 17.57% and a negative net margin of 17.24%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. Equities research analysts anticipate that Medivation will post $1.27 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in Medivation during the second quarter valued at approximately $115,000. Advisor Group Inc. bought a new position in shares of Medivation during the second quarter worth $121,000. IFP Advisors Inc raised its position in shares of Medivation by 22.1% in the second quarter. IFP Advisors Inc now owns 2,155 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 390 shares during the period. Acrospire Investment Management LLC raised its position in shares of Medivation by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 600 shares during the period. Finally, Mizuho Asset Management Co. Ltd. raised its position in shares of Medivation by 428.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 2,067 shares during the period. 87.55% of the stock is owned by hedge funds and other institutional investors.
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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