Medivation Inc. (NASDAQ:MDVN) Receives Average Recommendation of “Hold” from Analysts
Shares of Medivation Inc. (NASDAQ:MDVN) have received an average rating of “Hold” from the twenty-three ratings firms that are covering the stock. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $77.34.
A number of brokerages recently issued reports on MDVN. SunTrust Banks Inc. restated a “neutral” rating on shares of Medivation in a research report on Wednesday, September 14th. Maxim Group set a $76.00 target price on shares of Medivation and gave the stock a “buy” rating in a research report on Monday, August 22nd. Vetr lowered shares of Medivation from a “hold” rating to a “sell” rating and set a $77.89 price target on the stock. in a report on Monday, August 22nd. Canaccord Genuity reiterated a “buy” rating and issued a $82.00 price target (up previously from $70.00) on shares of Medivation in a report on Tuesday, August 23rd. Finally, BMO Capital Markets lifted their price target on shares of Medivation from $67.16 to $81.50 and gave the company a “market perform” rating in a report on Tuesday, August 23rd.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ING Groep NV raised its position in Medivation by 30,642.1% in the first quarter. ING Groep NV now owns 2,459,367 shares of the biopharmaceutical company’s stock valued at $113,057,000 after buying an additional 2,451,367 shares during the period. TimesSquare Capital Management LLC raised its position in Medivation by 9.8% in the first quarter. TimesSquare Capital Management LLC now owns 3,127,600 shares of the biopharmaceutical company’s stock valued at $143,807,000 after buying an additional 278,500 shares during the period. BlackRock Fund Advisors raised its position in Medivation by 5.7% in the first quarter. BlackRock Fund Advisors now owns 3,619,897 shares of the biopharmaceutical company’s stock valued at $166,443,000 after buying an additional 196,457 shares during the period. BlackRock Group LTD raised its position in Medivation by 0.6% in the first quarter. BlackRock Group LTD now owns 1,286,697 shares of the biopharmaceutical company’s stock valued at $59,164,000 after buying an additional 8,138 shares during the period. Finally, Franklin Resources Inc. raised its position in Medivation by 1.3% in the first quarter. Franklin Resources Inc. now owns 1,952,808 shares of the biopharmaceutical company’s stock valued at $89,790,000 after buying an additional 24,200 shares during the period. 87.55% of the stock is owned by institutional investors and hedge funds.
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Medivation (NASDAQ:MDVN) traded up 0.438% during mid-day trading on Friday, hitting $81.435. The stock had a trading volume of 12,151,495 shares. Medivation has a one year low of $26.41 and a one year high of $81.45. The company’s market cap is $13.51 billion. The company has a 50 day moving average price of $75.35 and a 200-day moving average price of $60.02.
Medivation (NASDAQ:MDVN) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Medivation had a negative net margin of 17.24% and a positive return on equity of 17.57%. The firm had revenue of $206 million for the quarter, compared to analyst estimates of $214.52 million. During the same quarter last year, the business earned $0.58 earnings per share. Medivation’s revenue was up 17.4% compared to the same quarter last year. Equities analysts expect that Medivation will post $1.27 earnings per share for the current fiscal year.
Medivation Company Profile
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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