Medivation CEO David Hung Sells 150,000 Shares (MDVN)
Medivation (NASDAQ:MDVN) CEO David Hung unloaded 150,000 shares of the stock on the open market in a transaction dated Monday, January 27th. The shares were sold at an average price of $73.50, for a total transaction of $11,025,000.00. Following the completion of the transaction, the chief executive officer now directly owns 950,204 shares of the company’s stock, valued at approximately $69,839,994. The sale was disclosed in a filing with the SEC, which is available at this link.
MDVN has been the subject of a number of recent research reports. Analysts at CRT Capital initiated coverage on shares of Medivation in a research note to investors on Tuesday. They set a “buy” rating and a $88.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Medivation from $69.00 to $89.00 in a research note to investors on Monday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Medivation in a research note to investors on Monday, January 13th. They now have a $76.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Medivation has an average rating of “Buy” and a consensus price target of $71.75.
Medivation (NASDAQ:MDVN) traded up 4.12% on Tuesday, hitting $75.78. 1,544,558 shares of the company’s stock traded hands. Medivation has a 52-week low of $41.89 and a 52-week high of $79.46. The stock’s 50-day moving average is $68.22 and its 200-day moving average is $60.82. The company’s market cap is $5.718 billion.
Medivation (NASDAQ:MDVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.18) earnings per share for the quarter, beating the analysts’ 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 previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that Medivation will post $-0.70 EPS for the current fiscal year.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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