Investors Sell Shares of Medivation Inc. (MDVN) on Strength (MDVN)
Investors sold shares of Medivation Inc. (NASDAQ:MDVN) on strength during trading hours on Thursday. $40.06 million flowed into the stock on the tick-up and $81.68 million flowed out of the stock on the tick-down, for a money net flow of $41.62 million out of the stock. Of all equities tracked, Medivation had the 0th highest net out-flow for the day. Medivation traded up $0.37 for the day and closed at $80.93
A number of analysts have recently issued reports on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Medivation in a report on Sunday, May 8th. Barclays PLC reissued a “buy” rating on shares of Medivation in a report on Sunday, May 8th. Citigroup Inc. reissued a “buy” rating on shares of Medivation in a report on Sunday, June 26th. Wedbush reissued an “outperform” rating and issued a $66.00 price objective (up previously from $63.00) on shares of Medivation in a report on Tuesday, July 12th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Medivation in a report on Sunday, July 17th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.96.
The company has a 50-day moving average of $67.92 and a 200-day moving average of $55.36. The stock’s market capitalization is $13.43 billion.
Medivation (NASDAQ:MDVN) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company earned $206 million during the quarter, compared to analysts’ expectations of $214.52 million. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. On average, equities research analysts anticipate that Medivation Inc. will post $1.27 EPS for the current fiscal year.
In other Medivation news, SVP Andrew Kenneth William Powell sold 2,578 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $60.42, for a total value of $155,762.76. Following the sale, the senior vice president now owns 28,517 shares in the company, valued at approximately $1,722,997.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
A hedge fund recently raised its stake in Medivation stock. KBC Group NV raised its position in shares of Medivation Inc. (NASDAQ:MDVN) by 98.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,177 shares of the biopharmaceutical company’s stock after buying an additional 15,984 shares during the period. KBC Group NV’s holdings in Medivation were worth $1,556,000 at the end of the most recent quarter.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.