Medivation Inc (MDVN) is Reiterated by Barclays to Overweight, Raises Price Target to $ 70

Medivation Inc (MDVN) was Reiterated by Barclays to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $48 . Barclays advised their investors in a research report released on May 6, 2016.

Many Wall Street Analysts have commented on Medivation Inc. Medivation Inc was Upgraded by Citigroup to ” Buy” on May 6, 2016. Company shares were Reiterated by Maxim Group on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 76 from a previous price target of $47 .Company shares were Reiterated by Stifel on May 2, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $52 .

On the company’s financial health, Medivation Inc reported $0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.23. The company had revenue of $182.50 million for the quarter, compared to analysts expectations of $197.72 million. The company’s revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Medivation Inc opened for trading at $60 and hit $60.99 on the upside on Friday, eventually ending the session at $60, with a gain of 1.32% or 0.78 points. The heightened volatility saw the trading volume jump to 38,39,796 shares. Company has a market cap of $9,877 M.

In a different news, on Mar 16, 2016, Dawn Svoronos (director) sold 6,000 shares at $38.90 per share price. According to the SEC, 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.

Medivation Inc

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