Medivation Rating Increased to Hold at TheStreet (MDVN)
Medivation (NASDAQ:MDVN) was upgraded by TheStreet from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Stock Ratings Network.com reports.
The analysts wrote, “Medivation (MDVN) has been upgraded by TheStreet Ratings from sell to hold. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet.”
Shares of Medivation (NASDAQ:MDVN) traded up 0.95% during mid-day trading on Wednesday, hitting $66.62. 665,376 shares of the company’s stock traded hands. Medivation has a one year low of $44.51 and a one year high of $88.20. The stock has a 50-day moving average of $61.13 and a 200-day moving average of $67.23. The company’s market cap is $5.079 billion.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.09) by $0.09. The company had revenue of $87.19 million for the quarter, compared to the consensus estimate of $94.64 million. During the same quarter in the prior year, the company posted ($0.36) earnings per share. The company’s quarterly revenue was up 88.9% on a year-over-year basis. Analysts expect that Medivation will post $1.36 EPS for the current fiscal year.
A number of other firms have also recently commented on MDVN. Analysts at Leerink Swann reiterated an “outperform” rating on shares of Medivation in a research note on Friday, May 9th. They now have a $114.00 price target on the stock, up previously from $104.00. Separately, analysts at Barclays raised their price target on shares of Medivation from $62.00 to $65.00 in a research note on Friday, May 9th. Finally, analysts at Aegis reiterated a “positive” rating on shares of Medivation in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $90.69.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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