Large Inflow of Money Detected in Medivation

Medivation (MDVN) : $28.63 million worth of transactions were on upticks in Medivation (MDVN), compared to $10.99 million on downticks. The ratio between the two was 2.61, whereas, the net money flow stood at a healthy $17.64 million on Tuesdays session. The consistent buying on upticks in the stock accounted for $18.23million worth of trades. The total money flow into the stock stood at $18.23 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.01%. The stock was trading at $80.28, with a drop of $0.01 over the previous days close. The stock recorded -0.09% for the week.


Also, Equity Analysts at the Brokerage Firm, Citigroup, downgrades their rating on the shares of Medivation (NASDAQ:MDVN). Citigroup has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $81.5 per share from a prior target of $73. The rating by the firm was issued on August 23, 2016.

Shares of Medivation, Inc. rose by 0.11% in the last five trading days and 25.41% for the last 4 weeks. Medivation, Inc. is up 31.44% in the last 3-month period. Year-to-Date the stock performance stands at 66.24%.

Medivation (NASDAQ:MDVN): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $80.30 and $80.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $80.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $80.36, notching a gain of 0.10% for the day. The total traded volume was 6,541,233 . The stock had closed at $80.28 on the previous day.

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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