Zacks Reiterates Neutral Rating for Medivation (MDVN)
Medivation (NASDAQ:MDVN)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Monday, AmericanBankingNews.com reports. They currently have a $76.00 price target on the stock. Zacks‘ target price points to a potential upside of 9.05% from the company’s current price.
Zacks‘ analyst wrote, “Medivation reported a third-quarter loss of $0.18 per share, narrower than the Zacks Consensus Estimate of a loss of $0.28 per share but wider than the year-ago loss of $0.06. Revenues were $60 million, below the year-ago revenues of $64.8 million. We are encouraged by Xtandi’s performance, which could very well be a game-changer for Medivation. The prostate cancer market represents huge commercial potential and Xtandi is already doing well. Launch in additional countries should drive sales further. Medivation has consistently presented impressive data on Xtandi and we believe Xtandi has blockbuster potential. It is currently in several studies including for the pre-chemo setting. Expansion into the pre-chemo setting would be a major positive for Medivation. We remain Neutral on the stock.”
Medivation (NASDAQ:MDVN) traded down 4.25% during mid-day trading on Monday, hitting $69.69. The stock had a trading volume of 1,040,968 shares. Medivation has a 52-week low of $41.89 and a 52-week high of $72.96. The stock’s 50-day moving average is $64.01 and its 200-day moving average is $58.8. The company’s market cap is $5.258 billion.
Medivation (NASDAQ:MDVN) last released its earnings data on Tuesday, November 12th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.26) by $0.08. The company had revenue of $108.50 million for the quarter, compared to the consensus estimate of $60.13 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, analysts predict that Medivation will post $-0.70 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MDVN. Analysts at Barclays raised their price target on shares of Medivation from $57.00 to $62.00 in a research note to investors on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at UBS AG reiterated a “positive” rating on shares of Medivation in a research note to investors on Wednesday, December 4th. Finally, analysts at Credit Suisse raised their price target on shares of Medivation from $77.00 to $80.00 in a research note to investors on Wednesday, November 13th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Medivation presently has a consensus rating of “Buy” and an average price target of $68.40.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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