Medivation Inc (MDVN) reported quarterly earnings results on Thursday, May-5-2016. The company reported $0.11 earnings per share for the quarter, missing the analyst consensus estimate by $-0.12. Analysts had a consensus of $0.23. The company posted revenue of $182.50 million in the period, 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.
Many Wall Street Analysts have commented on Medivation Inc. 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 .Company shares were Reiterated by Jefferies on May 2, 2016 to “Hold”, Firm has raised the Price Target to $ 52 from a previous price target of $39 .
Medivation Inc opened for trading at $59.5 and hit $59.95 on the upside on Wednesday, eventually ending the session at $59.06, with a gain of 2.68% or 1.54 points. The heightened volatility saw the trading volume jump to 51,93,438 shares. Company has a market cap of $9,700 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.