Medivation Insider Sells $3,212,500 in Stock (MDVN)
Medivation (NASDAQ:MDVN) Insider Cheryl Cohen unloaded 50,000 shares of the stock on the open market in a transaction dated Thursday, October 24th. The shares were sold at an average price of $64.25, for a total value of $3,212,500.00. Following the completion of the sale, the insider now directly owns 25,439 shares of the company’s stock, valued at approximately $1,634,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Medivation (NASDAQ:MDVN) traded up 5.11% during mid-day trading on Monday, hitting $63.32. 2,165,289 shares of the company’s stock traded hands. Medivation has a 52 week low of $41.89 and a 52 week high of $59.86. The stock’s 50-day moving average is $57.49 and its 200-day moving average is $52.09. The company’s market cap is $4.762 billion.
Medivation (NASDAQ:MDVN) last announced its earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.14. The company had revenue of $70.15 million for the quarter, compared to the consensus estimate of $59.35 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was up 63.5% on a year-over-year basis. On average, analysts predict that Medivation will post $-0.90 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on MDVN shares. Analysts at Chardan Capital reiterated a “buy” rating on shares of Medivation in a research note to investors on Monday. They now have a $72.00 price target on the stock. Separately, analysts at Maxim Group raised their price target on shares of Medivation from $66.00 to $71.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Aegis reiterated a “buy” rating on shares of Medivation in a research note to investors on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Medivation currently has a consensus rating of “Buy” and an average target price of $66.17.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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