Large Inflow of Money Detected in Medivation

Medivation (MDVN) : $22.85 million worth of transactions were on upticks in Medivation (MDVN), compared to $8.91 million on downticks. The ratio between the two was 2.57, whereas, the net money flow stood at a healthy $13.94 million on Wednesdays session. The consistent buying on upticks in the stock accounted for $13.26million worth of trades. The total money flow into the stock stood at $13.26 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.1%. The stock was trading at $61.81, with a drop of $0.06 over the previous days close. The stock recorded -0.11% for the week.


Also, Citigroup upgrades its rating on Medivation (NASDAQ:MDVN). The global brokerage major raises the current price target from $37 per share to $73 per share. Analysts at the Citigroup have a current rating of Buy on the shares. The shares were previously rated Neutral. The rating by the firm was issued on May 6, 2016.

Medivation (NASDAQ:MDVN): The stock opened at $62.05 on Wednesday but the bulls could not build on the opening and the stock topped out at $62.11 for the day. The stock traded down to $61.55 during the day, due to lack of any buying support eventually closed down at $61.81 with a loss of -0.10% for the day. The stock had closed at $61.87 on the previous day. The total traded volume was 1,234,858 shares.

The stock has recorded a 20-day Moving Average of 1.99% and the 50-Day Moving Average is 2%. In a related news,The officer (SVP, General Counsel & Crp Sec) of Medivation, Inc., Powell Andrew Kenneth William sold 2,578 shares at $60.42 on June 6, 2016. The Insider selling transaction had a total value worth of $155,763. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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