Insider Selling: Lynn Seely Unloads 12,000 Shares of Medivation Stock (MDVN)
Medivation (NASDAQ:MDVN) Insider Lynn Seely sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $79.02, for a total transaction of $948,240.00. Following the completion of the sale, the insider now directly owns 59,022 shares in the company, valued at approximately $4,663,918. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Medivation (NASDAQ:MDVN) traded down 2.08% on Monday, hitting $75.89. The stock had a trading volume of 701,941 shares. Medivation has a 1-year low of $48.15 and a 1-year high of $88.20. The stock has a 50-day moving average of $74. and a 200-day moving average of $70.44. The company’s market cap is $5.807 billion.
Medivation (NASDAQ:MDVN) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.36) earnings per share. The company’s revenue for the quarter was up 88.9% on a year-over-year basis. Analysts expect that Medivation will post $1.35 EPS for the current fiscal year.
A number of research firms have recently commented on MDVN. Analysts at Aegis reiterated a “buy” rating on shares of Medivation in a research note on Wednesday, July 2nd. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Medivation in a research note on Monday, June 23rd. They now have a $81.00 price target on the stock, down previously from $83.00. Finally, analysts at Jefferies Group upgraded shares of Medivation from a “hold” rating to a “buy” rating in a research note on Thursday, June 19th. They now have a $80.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” 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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