Leerink Swann Increases Medivation Price Target to $107.00 (MDVN)
Investment analysts at Leerink Swann boosted their price objective on shares of Medivation (NASDAQ:MDVN) from $104.00 to $107.00 in a note issued to investors on Friday. Leerink Swann’s price target would suggest a potential upside of 32.21% from the stock’s previous close.
Medivation (NASDAQ:MDVN) traded up 7.52% on Friday, hitting $80.93. The stock had a trading volume of 4,068,640 shares. Medivation has a 52-week low of $48.15 and a 52-week high of $88.20. The stock has a 50-day moving average of $75.89 and a 200-day moving average of $71.59. The company’s market cap is $6.193 billion. Medivation also saw some unusual options trading on Friday. Investors purchased 861 call options on the stock. This is an increase of 295% compared to the average volume of 218 call options.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.36. 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. Analysts expect that Medivation will post $1.50 EPS for the current fiscal year.
A number of other firms have also recently commented on MDVN. Analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Medivation in a research note on Friday. They now have a $107.00 price target on the stock, up previously from $104.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of Medivation from $83.00 to $89.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Brean Capital raised their price target on shares of Medivation from $100.00 to $105.00 in a research note on Friday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $96.47.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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