Medivation Inc. (MDVN) Given “Hold” Rating at BMO Capital Markets
Medivation Inc. (NASDAQ:MDVN)‘s stock had its “hold” rating reiterated by stock analysts at BMO Capital Markets in a report released on Sunday.
Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Medivation in a report on Sunday, July 17th. Citigroup Inc. reaffirmed a “buy” rating on shares of Medivation in a report on Sunday, June 26th. Wedbush reaffirmed an “outperform” rating and issued a $66.00 price target (up previously from $63.00) on shares of Medivation in a report on Tuesday, July 12th. Leerink Swann reaffirmed a “market perform” rating and issued a $64.00 price target on shares of Medivation in a report on Thursday, July 7th. Finally, JMP Securities cut shares of Medivation from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $73.80.
Shares of Medivation (NASDAQ:MDVN) remained flat at $81.44 during midday trading on Friday. Medivation has a one year low of $26.41 and a one year high of $81.48. The firm’s 50-day moving average price is $77.41 and its 200 day moving average price is $61.39.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results 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 company had revenue of $206 million for the quarter, compared to analysts’ expectations of $214.52 million. Medivation had a negative net margin of 17.24% and a positive return on equity of 17.57%. Medivation’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 EPS. On average, analysts expect that Medivation will post $1.27 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Scopia Capital Management LP acquired a new stake in Medivation during the first quarter valued at about $128,970,000. ING Groep NV raised its stake 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 worth $113,057,000 after buying an additional 2,451,367 shares in the last quarter. BlueMountain Capital Management LLC raised its stake in Medivation by 22,119.3% in the second quarter. BlueMountain Capital Management LLC now owns 1,492,918 shares of the biopharmaceutical company’s stock worth $90,023,000 after buying an additional 1,486,199 shares in the last quarter. Consonance Capital Management LP purchased a new stake in Medivation during the first quarter worth $62,073,000. Finally, Fiera Capital Corp raised its stake in Medivation by 17,075.0% in the second quarter. Fiera Capital Corp now owns 1,185,072 shares of the biopharmaceutical company’s stock worth $71,460,000 after buying an additional 1,178,172 shares in the last quarter. Institutional investors and hedge funds own 87.55% of the company’s stock.
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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