Medivation Inc. (MDVN) Hits New 12-Month High at $80.98
Medivation Inc. (NASDAQ:MDVN)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $80.98 and last traded at $80.74, with a volume of 4,666,580 shares traded. The stock had previously closed at $80.56.
A number of equities analysts have recently commented on MDVN shares. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Medivation in a research report on Wednesday, June 8th. Citigroup Inc. reaffirmed a “buy” rating on shares of Medivation in a research report on Sunday, June 26th. Barclays PLC reaffirmed a “buy” rating on shares of Medivation in a research report on Sunday, May 8th. Brean Capital reaffirmed a “buy” rating and set a $61.00 target price on shares of Medivation in a research report on Saturday, May 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Medivation in a research report on Sunday, July 17th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company’s stock. Medivation has an average rating of “Hold” and a consensus price target of $76.96.
The firm’s market capitalization is $13.42 billion. The firm’s 50 day moving average is $68.45 and its 200-day moving average is $55.54.
Medivation (NASDAQ:MDVN) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm earned $206 million during the quarter, compared to analyst estimates of $214.52 million. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. Equities research analysts forecast that Medivation Inc. will post $1.27 EPS for the current year.
In related news, SVP Andrew Kenneth William Powell sold 2,578 shares of the 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 transaction, the senior vice president now owns 28,517 shares in the company, valued at $1,722,997.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A hedge fund recently raised its stake in Medivation stock. KBC Group NV increased its position in Medivation Inc. (NASDAQ:MDVN) by 98.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.
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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