Medivation Inc (MDVN) is Downgraded by Maxim Group to Hold, Raises Price Target to $ 81.50

Medivation Inc (MDVN) was Downgraded by Maxim Group to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 81.50 from a previous price target of $76 . Earlier the firm had a rating of “Buy ” on the company shares. Maxim Group advised their investors in a research report released on Aug 23, 2016.

Many Wall Street Analysts have commented on Medivation Inc. Medivation Inc was Downgraded by Stifel to ” Hold” on Aug 23, 2016. Medivation Inc was Downgraded by Credit Suisse to ” Neutral” on Aug 23, 2016. Medivation Inc was Downgraded by SunTrust to ” Neutral” on Aug 22, 2016.

On the company’s financial health, Medivation Inc reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.26. The company had revenue of $206.20 million for the quarter, compared to analysts expectations of $209.92 million. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.

Medivation Inc closed down -0.03 points or -0.04% at $67.16 with 14,25,679 shares getting traded on Friday. Post opening the session at $67.19, the shares hit an intraday low of $67 and an intraday high of $67.4 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 6, 2016, Andrew Kenneth William Powell (SVP, General Counsel & Crp Sec) sold 2,578 shares at $60.42 per share price. According to the SEC, on May 9, 2016, Rick Bierly (CFO (former) sold 10,340 shares at $59.98 per share price. On Mar 16, 2016, Dawn Svoronos (director) sold 6,000 shares at $38.90 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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