Medivation (MDVN) : Traders are bullish on Medivation (MDVN) as it has outperformed the S&P 500 by a wide margin of 6.82% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.76%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.73% in the last 1 week, and is up 7.23% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Medivation, Inc. is up 10.9% in the last 3-month period. Year-to-Date the stock performance stands at 38.93%. The stock has recorded a 20-day Moving Average of 4.73% and the 50-Day Moving Average is 8.43%.
Medivation (NASDAQ:MDVN): The stock opened at $67.19 on Friday but the bulls could not build on the opening and the stock topped out at $67.40 for the day. The stock traded down to $67.00 during the day, due to lack of any buying support eventually closed down at $67.16 with a loss of -0.04% for the day. The stock had closed at $67.19 on the previous day. The total traded volume was 1,425,679 shares.
Also, Brokerage firm JMP Securities downgrades its rating on Medivation (NASDAQ:MDVN). The shares have been rated Market Perform. Previously, the analysts had a Market Outperform rating on the shares. The rating by the firm was issued on August 10, 2016.
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.