Medivation PT Raised to $124.00 (MDVN)
Stock analysts at Citigroup Inc. lifted their target price on shares of Medivation (NASDAQ:MDVN) to $124.00 in a report issued on Monday, AmericanBankingNews.com reports. Citigroup Inc.’s price target points to a potential upside of 55.78% from the company’s current price.
Shares of Medivation (NASDAQ:MDVN) traded down 6.41% during mid-day trading on Monday, hitting $74.50. 2,339,470 shares of the company’s stock traded hands. Medivation has a one year low of $41.89 and a one year high of $87.46. The stock has a 50-day moving average of $70.07 and a 200-day moving average of $61.3. The company’s market cap is $5.621 billion.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results on Thursday, January 30th. The company reported ($0.43) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.14) by $0.29. On average, analysts predict that Medivation will post $-0.70 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MDVN. Analysts at Sanford C. Bernstein downgraded shares of Medivation from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. They now have a $92.00 price target on the stock, up previously from $84.00. Separately, analysts at Needham & Company downgraded shares of Medivation from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $65.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks upgraded shares of Medivation from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $101.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Medivation has a consensus rating of “Buy” and an average target price of $90.18.
In other Medivation news, CFO Clarence Patrick Machado sold 40,000 shares of Medivation stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $75.43, for a total transaction of $3,017,200.00. Following the transaction, the chief financial officer now directly owns 30,830 shares in the company, valued at approximately $2,325,507. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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