Traders Buy High Volume of Call Options on Medivation (MDVN)
Medivation (NASDAQ:MDVN) saw some unusual options trading activity on Friday. Stock traders acquired 861 call options on the company, AnalystRatingsNetwork reports. This represents an increase of approximately 295% compared to the typical daily volume of 218 call options.
MDVN has been the subject of a number of recent research reports. Analysts at Aegis raised their price target on shares of Medivation from $125.00 to $130.00 in a research note on Friday. Separately, analysts at Leerink Swann raised their price target on shares of Medivation from $104.00 to $107.00 in a research note on Friday. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Medivation has an average rating of “Buy” and a consensus target price of $96.47.
Shares of Medivation (NASDAQ:MDVN) traded up 7.52% on Friday, hitting $80.93. The stock had a trading volume of 4,068,440 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 $6.193 billion.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 111.1% on a year-over-year basis. Analysts expect that Medivation will post $1.50 EPS for the current fiscal year.
Medivation, Inc is a biopharmaceutical company focused on the development and commercialization of novel therapies.
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