Medivation Inc. (MDVN) Sets New 12-Month High at $63.23
Shares of Medivation Inc. (NASDAQ:MDVN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $63.23 and last traded at $62.61, with a volume of 2,149,381 shares. The stock had previously closed at $61.81.
A number of analysts recently issued reports on MDVN shares. Credit Suisse Group AG raised their price objective on Medivation to $63.00 in a research report on Tuesday, May 3rd. They noted that the move was a valuation call. SunTrust Banks Inc. assumed coverage on Medivation in a research report on Tuesday, April 5th. They set a “buy” rating and a $56.00 price objective for the company. Barclays PLC reaffirmed a “buy” rating and issued a $42.57 target price on shares of Medivation in a research report on Wednesday, March 30th. Canaccord Genuity raised Medivation from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $70.00 in a research report on Tuesday, April 19th. Finally, TheStreet raised Medivation from a “hold” rating to a “buy” rating in a research report on Monday, April 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $72.08.
The company has a market capitalization of $10.31 billion and a price-to-earnings ratio of 42.06. The company has a 50 day moving average of $60.49 and a 200-day moving average of $48.37.
Medivation (NASDAQ:MDVN) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.12. The firm earned $182.50 million during the quarter, compared to analyst estimates of $197.01 million. During the same period in the prior year, the business posted $0.17 EPS. The business’s quarterly revenue was up 41.3% on a year-over-year basis. On average, equities analysts forecast that Medivation Inc. will post $1.29 EPS for the current fiscal year.
In other news, SVP Andrew Kenneth William Powell sold 2,578 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $60.42, for a total value of $155,762.76. Following the completion of the sale, the senior vice president now owns 28,517 shares in the company, valued at $1,722,997.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rick Bierly sold 10,340 shares of the stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $59.76, for a total value of $617,918.40. Following the completion of the sale, the chief financial officer now owns 35,059 shares of the company’s stock, valued at approximately $2,095,125.84. The disclosure for this sale can be found here.
Several large investors recently bought and sold shares of MDVN. Cornerstone Capital Management Holdings LLC. raised its stake in Medivation by 30.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 64,075 shares of the biopharmaceutical company’s stock worth $3,098,000 after buying an additional 14,870 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Medivation by 7.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 29,559 shares of the biopharmaceutical company’s stock worth $1,429,000 after buying an additional 1,979 shares during the period. Andra AP fonden raised its stake in shares of Medivation by 19.5% in the fourth quarter. Andra AP fonden now owns 30,600 shares of the biopharmaceutical company’s stock worth $1,479,000 after buying an additional 5,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Medivation by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 11,369,030 shares of the biopharmaceutical company’s stock worth $549,579,000 after buying an additional 458,889 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of Medivation by 9.5% in the fourth quarter. TD Asset Management Inc. now owns 28,804 shares of the biopharmaceutical company’s stock worth $1,392,000 after buying an additional 2,500 shares during the period.
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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