Medivation CFO Sells $3,017,200 in Stock (MDVN)
Medivation (NASDAQ:MDVN) CFO Clarence Patrick Machado unloaded 40,000 shares of Medivation stock on the open market in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $75.43, for a total value of $3,017,200.00. Following the completion of the transaction, the chief financial officer now directly owns 30,830 shares of the company’s stock, valued at approximately $2,325,507. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Medivation (NASDAQ:MDVN) traded up 11.23% on Wednesday, hitting $84.29. The stock had a trading volume of 6,355,903 shares. Medivation has a 52 week low of $41.89 and a 52 week high of $79.46. The stock has a 50-day moving average of $68.22 and a 200-day moving average of $60.82. The company’s market cap is $6.360 billion.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Medivation will post $-0.70 EPS for the current fiscal year.
MDVN has been the subject of a number of recent research reports. Analysts at UBS AG raised their EPS on shares of Medivation in a research note to investors on Wednesday. They now have a “buy” rating and a $93.00 price target on the stock. Separately, analysts at Wedbush raised their price target on shares of Medivation to $118.00 in a research note to investors on Wednesday. Finally, analysts at Brean Capital raised their price target on shares of Medivation from $72.00 to $100.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $84.27.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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