Traders Sell Shares of Medivation Inc. (MDVN) on Strength (MDVN)
Traders sold shares of Medivation Inc. (NASDAQ:MDVN) on strength during trading 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 companies 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 brokerages have weighed in on MDVN. Canaccord Genuity reaffirmed a “buy” rating on shares of Medivation in a research report on Sunday, July 17th. Barclays PLC reaffirmed a “buy” rating on shares of Medivation in a research report on Sunday, May 8th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Medivation in a research report on Sunday, May 8th. Citigroup Inc. reaffirmed a “buy” rating on shares of Medivation in a research report on Sunday, June 26th. Finally, BMO Capital Markets lifted their target price on Medivation from $67.16 to $81.50 and gave the company a “market perform” rating in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $76.96.
The stock’s market cap 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 results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $206 million for the quarter, compared to analysts’ expectations of $214.52 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts forecast that Medivation Inc. will post $1.27 earnings per share for the current year.
In other news, SVP Andrew Kenneth William Powell sold 2,578 shares of the stock in a transaction 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 directly owns 28,517 shares in the company, valued at $1,722,997.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Medivation stock. I.G. Investment Management LTD. increased its stake in shares of Medivation Inc. (NASDAQ:MDVN) by 10.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,420 shares of the biopharmaceutical company’s stock after buying an additional 5,200 shares during the period. I.G. Investment Management LTD.’s holdings in Medivation were worth $2,727,000 at the end of the most recent reporting 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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