Medivation Inc. (MDVN) Hits New 1-Year High at $64.39
Medivation Inc. (NASDAQ:MDVN)’s share price hit a new 52-week high on Thursday . The company traded as high as $64.39 and last traded at $63.63, with a volume of 538,369 shares traded. The stock had previously closed at $64.08.
MDVN has been the topic of a number of recent analyst reports. Canaccord Genuity upgraded shares of Medivation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $70.00 in a report on Tuesday, April 19th. BMO Capital Markets initiated coverage on shares of Medivation in a report on Monday, April 11th. They set a “market perform” rating and a $47.00 target price on the stock. Vetr downgraded shares of Medivation from a “hold” rating to a “sell” rating and set a $49.59 target price on the stock. in a report on Monday, April 18th. Barclays PLC upped their price objective on shares of Medivation from $48.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, May 6th. Finally, Brean Capital reiterated a “buy” rating and issued a $61.00 price objective on shares of Medivation in a report on Saturday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $72.08.
The firm has a market capitalization of $10.41 billion and a PE ratio of 42.48. The company has a 50-day moving average of $61.47 and a 200 day moving average of $49.95.
In other news, SVP Andrew Kenneth William Powell sold 2,578 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $60.42, for a total transaction of $155,762.76. Following the completion of the sale, 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 legal filing with the SEC, which is available at the SEC website.
Other large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Medivation by 16.6% in the fourth quarter. Advisors Asset Management Inc. now owns 25,952 shares of the biopharmaceutical company’s stock valued at $1,255,000 after buying an additional 3,688 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 valued at $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 valued at $1,479,000 after buying an additional 5,000 shares during the period. KBC Group NV raised its stake in shares of Medivation by 98.7% in the fourth quarter. KBC Group NV now owns 32,177 shares of the biopharmaceutical company’s stock valued at $1,556,000 after buying an additional 15,984 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in shares of Medivation during the fourth quarter valued at $1,710,000.
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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