“Due to the September 28, 2016 acquisition of Medivation by Pfizer Inc., we are.”,” the firm’s analyst wrote.
Several other research analysts have also issued reports on MDVN. Canaccord Genuity reiterated a buy rating on shares of Medivation in a report on Wednesday, September 28th. SunTrust Banks Inc. reiterated a neutral rating on shares of Medivation in a report on Wednesday, September 14th. Maxim Group set a $76.00 price target on Medivation and gave the stock a buy rating in a report on Monday, August 22nd. Vetr lowered 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. Finally, BMO Capital Markets increased their price target on Medivation from $67.16 to $81.50 and gave the stock a market perform rating in a report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and four have issued a buy rating to the company. Medivation currently has an average rating of Hold and a consensus target price of $73.80.
Medivation (NASDAQ:MDVN) opened at 81.44 on Wednesday. Medivation has a 52 week low of $26.41 and a 52 week high of $81.48. The stock’s 50 day moving average price is $77.41 and its 200 day moving average price is $61.39.
Medivation (NASDAQ:MDVN) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Medivation had a positive return on equity of 17.57% and a negative net margin of 17.24%. The company had revenue of $206 million for the quarter, compared to analyst estimates of $214.52 million. During the same quarter in the prior year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, analysts expect that Medivation will post $1.27 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Scopia Capital Management LP bought a new position in Medivation during the first quarter worth approximately $128,970,000. Legal & General Group Plc raised its position in Medivation by 1.5% in the first quarter. Legal & General Group Plc now owns 603,075 shares of the biopharmaceutical company’s stock worth $27,730,000 after buying an additional 8,834 shares during the last quarter. State Street Corp raised its position in Medivation by 7.5% in the first quarter. State Street Corp now owns 3,680,057 shares of the biopharmaceutical company’s stock worth $169,211,000 after buying an additional 258,206 shares during the last quarter. Brookside Capital Management LLC raised its position in Medivation by 36.8% in the first quarter. Brookside Capital Management LLC now owns 1,518,063 shares of the biopharmaceutical company’s stock worth $69,801,000 after buying an additional 408,371 shares during the last quarter. Finally, Norges Bank bought a new position in Medivation during the fourth quarter worth approximately $52,772,000. 87.55% of the stock is owned by hedge funds and other institutional investors.
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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