BMO Capital Initiates Coverage on Medivation Inc to Market Perform

BMO Capital Initiates Coverage on Medivation Inc(NASDAQ:MDVN). The shares have been rated Market Perform. The rating by BMO Capital was issued on Apr 12, 2016.

In a different note, On Mar 31, 2016, Credit Suisse said it Maintains its rating on Medivation Inc. In the research note, the firm Raises the price-target to $48.00 per share. The shares have been rated ‘Outperform’ by the firm. Goldman Sachs said it Initiates Coverage on Medivation Inc, according to a research note issued on Mar 30, 2016. The shares have been rated ‘Neutral’ by the firm. On Mar 28, 2016, Barclays said it Maintains its rating on Medivation Inc. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Overweight’ by the firm. Bank of America said it Initiates Coverage on Medivation Inc, according to a research note issued on Feb 19, 2016. The shares have been rated ‘Buy’ by the firm. Leerink Swann said it Initiates Coverage on Medivation Inc, according to a research note issued on Feb 5, 2016. The shares have been rated ‘Market Perform’ by the firm. On Jan 27, 2016, Canaccord Genuity said it Downgrades its rating on Medivation Inc. In the research note, the firm Lowers the price-target to $90.00 per share. The shares have been rated ‘Hold’ by the firm.

Medivation Inc (MDVN) made into the market gainers list on Fridays trading session with the shares advancing 3.96% or 1.95 points. Due to strong positive momentum, the stock ended at $51.17, which is also near the day’s high of $52.25. The stock began the session at $49.54 and the volume stood at 61,70,333 shares. The 52-week high of the shares is $66.905 and the 52 week low is $26.41. The company has a current market capitalization of $8,404 M and it has 16,42,33,530 shares in outstanding.

Medivation Inc(MDVN) last announced its earnings results on Feb 25, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $377.75M. Analysts had an estimated revenue of $373.33M. Earnings per share were $0.29. Analysts had estimated an EPS of $0.24.

Several Insider Transactions has been reported to the SEC. On Mar 16, 2016, Dawn Svoronos (director) sold 6,000 shares at $38.90 per share price.Also, On Mar 7, 2016, David Hung (President and CEO) sold 5,085 shares at $41.10 per share price.On Mar 7, 2016, Mohammad Hirmand (Interim Chief Medical Officer) sold 1,525 shares at $41.10 per share price, according to the Form-4 filing with the securities and exchange commission.

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. has one commercial product XTANDI (enzalutamide) capsules (XTANDI). XTANDI has received marketing approval in the United States Europe and other countries worldwide for the treatment of patients with metastatic castration-resistant prostate cancer (mCRPC) and in Japan for the treatment of patients with castration-resistant prostate cancer (CRPC). The Company in collaboration with Astellas is also conducting investigational studies of enzalutamide in prostate cancer and in advanced breast cancer. The Company has licensed exclusive worldwide rights to pidilizumab an immune modulatory anti-Programmed Death-1 (PD-1) monoclonal antibody for all potential indications from CureTech Ltd.

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