Medivation (MDVN) Releases Quarterly Earnings Results, Beats Estimates By $0.36 EPS
Medivation (NASDAQ:MDVN) posted its quarterly earnings results on Thursday. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.36, Analyst Ratings Net reports. The company had revenue of $148.09 million for the quarter, compared to the consensus estimate of $126.46 million. During the same quarter last year, the company posted ($0.07) earnings per share. Medivation’s revenue was up 111.1% compared to the same quarter last year.
Shares of Medivation (NASDAQ:MDVN) traded down 1.62% during mid-day trading on Thursday, hitting $75.27. The stock had a trading volume of 699,359 shares. Medivation has a one year low of $48.15 and a one year high of $88.20. The stock’s 50-day moving average is $75.76 and its 200-day moving average is $71.52. The company’s market cap is $5.760 billion.
A number of research firms have recently commented on MDVN. Analysts at Credit Suisse raised their price target on shares of Medivation from $95.00 to $98.00 in a research note on Monday. They now have an “outperform” rating on the stock. On the ratings front, analysts at Aegis reiterated a “buy” rating on shares of Medivation in a research note on Wednesday, July 2nd. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Medivation presently has an average rating of “Buy” and a consensus price target of $93.13.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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