Research Analysts’ Weekly Ratings Changes for Medivation (MDVN)
Medivation (NASDAQ: MDVN) was the recipient of a ratings changes during the seven days:
- Medivation had its price target lowered by analysts at Aegis from $175.00 to $90.00. They now have a “buy” rating on the stock.
- Medivation had its “buy” rating reaffirmed by analysts at ThinkEquity.
- Medivation had its “buy” rating reaffirmed by analysts at Summer Street.
- Medivation is now covered by analysts at Maxim Group. They set a “buy” rating on the stock.
- Medivation had its price target raised by analysts at Citigroup from $64.50 to $70.00. They now have a “buy” rating on the stock. They wrote, “We are raising ests to reflect the higher Xtandi US price, earlier than expected FDA approval for post-chemo, partially offset by a more modest tiered ex-US royalty rate, and a slight delay to timing of pre-chemo ph 3 data. Our model is still conservative as it models a slower and shallower launch relative to Zytiga, conservative ex-US pricing, and does not account for potential rapid approval in Europe by March (based on Zytiga’s approval timing). Based on the first 2 wks of prescriptions, Xtandi is off to a solid launch in the U.S. Our doc checks are very constructive and compendia listing for pre-chemo might be received soon. Despite the strong appreciation, we remain bullish on the stock especially because our new analysis suggests that the pre-chemo market should be bigger than expected. We are raising EPS ests. Our new TP is $70 based on a 30x (unchanged) our 2015 EPS est of $3.10.”
Medivation Inc traded up 0.86% on Friday, hitting $58.49. Medivation Inc has a 1-year low of $7.965 and a 1-year high of $58.26. The company’s market cap is $4.309 billion.
Medivation, Inc. is a biopharmaceutical company focused on the rapid development of small molecule drugs to treat serious diseases for which there are limited treatment options.