Medivation Inc. (MDVN) Receives Buy Rating from Canaccord Genuity
Other equities research analysts have also recently issued research reports about the company. 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. Maxim Group set a $76.00 target price on Medivation and gave the stock a buy rating in a research report on Thursday, August 11th. Barclays PLC cut Medivation from an overweight rating to an equal weight rating and upped their target price for the stock from $70.00 to $81.00 in a research report on Monday, August 22nd. Finally, Leerink Swann reaffirmed a hold rating on shares of Medivation in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $73.80.
Shares of Medivation (NASDAQ:MDVN) opened at 81.44 on Wednesday. The stock’s market cap is $13.51 billion. Medivation has a 1-year low of $26.41 and a 1-year high of $81.48. The stock’s 50 day moving average is $77.41 and its 200-day moving average is $61.39.
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 analysts’ consensus estimates of $0.27 by $0.02. The firm earned $206 million during the quarter, compared to analysts’ expectations of $214.52 million. Medivation had a positive return on equity of 17.57% and a negative net margin of 17.24%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. On average, analysts anticipate that Medivation will post $1.27 EPS for the current year.
A number of large investors have recently made changes to their positions in MDVN. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Medivation during the second quarter worth about $115,000. Advisor Group Inc. purchased a new stake in shares of Medivation during the second quarter worth about $121,000. IFP Advisors Inc raised its stake in shares of Medivation by 22.1% in the second quarter. IFP Advisors Inc now owns 2,155 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 390 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Medivation by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 600 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of Medivation by 428.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,549 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 2,067 shares in the last quarter. 87.55% of the stock is currently owned by institutional investors and hedge funds.
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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